US jobless claims fall to 45-year low

WASHINGTON, Jan 18 (KUNA) -- The number of Americans filing for unemployment benefits last week fell to a nearly 45-year low, the Labor Department reported Thursday.
In it's latest weekly jobless claims report, the Labor Department said new applications for unemployment insurance benefits plunged by 41,000 to 220,000 in the second week of 2018, the lowest level since February 1973.
The report easily beat forecasters expectations for new jobless claims to fall to around 250,000.
However, analysts say the decline was likely artificially low due to the difficulties involved in adjusting for the seasonal effects of holiday hiring and adverse winter weather.
The four-week moving average of initial nonfarm payroll claims, considered a better measure of labor market, fell 6,250 to 244,500.
Last week was the 150th straight week that jobless claims remained below 300,000 threshold, which signals a strong labor market and is the longest stretch since 1970.
Presently, the jobless rate in the US is at a 17-year low of 4.1 percent. (end) hy.sd