The number of Americans filing applications for unemployment benefits unexpectedly fell last week, pointing to continued strong labor market conditions.
First-time claims for state unemployment benefits fell 10,000 to a seasonally adjusted 206,000 for the week ended July 20, the Labor Department said on Thursday.
Economists polled by Refinitiv had expected initial claims to increase by 3,000 to 219,000.The four-week moving average of initial claims — a ore accurate measure of labor market trends, because it irons out week-to-week volatility, dropped 5,750 to 213,000 last week.
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