The U.S. initial jobless claims decreased last week, and the labor market remained tight, according to a report released by the U.S. Labor Department on Thursday.

In the week that ended on Oct. 27, people filing for U.S. unemployment benefits dropped by 2,000 to 214,000 from previous week's revised level, said the Labor Department.

The four-week average of initial claims was 213,750 last week, which was 1,750 higher than its previous week's revised figure, said the department.

The initial jobless claims remained far below the 300,000 threshold, which is associated with a strong momentum in U.S. labor market.

The U.S. Federal Reserve also reported that the labor market remained tight across the United States in its last periodic economic conditions report.

Richard Clarida, the U.S. Federal Reserve's new Vice Chair, expressed his optimism over U.S. labor market last week in his first major policy speech last week.

"I believe that trend growth in the economy may well be faster and the structural rate of unemployment lower than I would have thought several years ago," Clarida said. He also noted that the job market could strengthen further without generating inflationary pressures, since prime-age labor force participation remains low in the United States.

The initial jobless claims report comes one day before the crucial monthly job report released by the Labor Department, which will include employment data from both private sector and the government.

The U.S. unemployment rate fell to 3.7 percent and touched the lowest level since 1969 in September. The market analysts expect the October unemployment rate would remain nearly unchanged. Enditem