U.S. jobless claims steady in solid labor market

WASHINGTON, Dec. 28 (Xinhua) -- The number of people filing for U.S. unemployment benefits was unchanged last week, the latest sign of a solid labor market, the U.S. Labor Department said Thursday.

The seasonally adjusted figure of initial jobless claims across the United States was 245,000 in the week ended Dec. 23, unchanged from the previous week, said the Labor Department.

The figure has been below 300,000 for more than two years, signaling a healthy labor market. The unemployment rate was 4.1 percent in November, the lowest level in 17 years.

The U.S. gross domestic product (GDP) expanded at a 3.2 percent annual rate in the third quarter, the fastest pace in more than two years. In the second quarter, the U.S. GDP expanded at 3.1 percent.

With robust economic growth and solid labor market, the Federal Reserve decided to raise the interest rates earlier this month for a third time this year. The U.S. central bank expected three more rate hikes in 2018. Enditem