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U.S. jobless claims drop to 49-year low last week
Last Updated: 2018-12-14 11:26 | Xinhua
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The number of U.S. initial jobless claims decreased last week to a nearly 49-year low, according to a report released by the U.S. Labor department on Thursday.

In the week ending Dec. 8, the number of people filing for U.S. unemployment benefits decreased by 27,000 from previous week's revised figure, reaching 206,000, said the report.

The number was close to the mid-September reading of 202,000, which was the lowest level since December 1969.

The previous week's level was revised up by 2,000 to 233,000, said the report.

The report also showed that four-week average of initial claims decreased by 3,750 to 224,750 last week, as the previous week's average was revised up by 500 to 228,500.

The reading of initial jobless claims remained below the 300,000 threshold, the decrease of initial jobless claims further signaled the tightness in the labor market.

The U.S. economy added a lower-than-expected 155,000 jobs in November, with the unemployment rate unchanged at 3.7 percent, the lowest level in almost five decades, the department said on Dec. 7.

The U.S. labor market is near or at full employment with the latest jobless rate sitting at a low level, while the continued hiring and wage increases would support the U.S. Federal Reserve (Fed) to further raise its benchmark interest rate.

The Fed raised its benchmark interest rate for the third time this year in September. Fed policy-makers also indicated another possible rate hike in December.

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