The number of Americans filing for unemployment benefits fell to a near 45-year low last week, pointing to strong job growth in February and solid momentum in the economy.
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The number of Americans filing for unemployment benefits fell to a near 45-year low last week, pointing to strong job growth in February and solid momentum in the economy.While that probably distorted last week's data, the underlying trend in claims was consistent with a robust labor market.Economists polled by Reuters had forecast claims unchanged at 230,000 in the latest week. It was the 155th straight week that claims remained below the 300,000 threshold, which is associated with a strong labor market. The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 2,250 to 226,000 last week.The four-week average of claims dropped 17,500 between the January and February survey weeks, suggesting solid job growth this month.The four-week moving average of the so-called continuing claims fell 16,250 to 1.93 million.
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