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U.S. initial jobless claims fall to 258,000

Xinhua, October 27, 2016 Adjust font size:

The number of Americans initially applying for unemployment aid fell last week by 3,000 from the revised level of the previous week, as the whole job market kept stable.

In the week ending Oct. 22, the advance figure of seasonally adjusted initial claims for jobless benefits was 258,000, said the U.S. Labor Department on Thursday.

The four-week moving average, which helps smooth out week-to-week volatility, increased 1,000 from the previous week's revised average to 253,000.

This marks 86 consecutive weeks of initial claims below 300,000, a benchmark for real job growth or loss in the economy, the longest streak since 1970, said the Labor Department.

Meanwhile, the advance figure of seasonally adjusted insured unemployment during the week ending Oct. 15 decreased 15,000 from the previous week to 2,039,000.

The U.S. total nonfarm payroll employment rose by 156,000 and the unemployment rate was 5 percent in September, making job gains 192,000 per month in average from July to September, according to the Labor Department. Endi