Jobless claims in US hover near lowest in four decades

Filings for U.S. unemployment benefits are hovering near the lowest level in four decades, according to a report released Thursday from the U.S. Department of Labor.

Claims rose by 3,000 to 270,000 for the week ended Aug. 1, while the four-week moving average decreased to 268,250 claims. The 255,000 reading reported two weeks earlier was the lowest recorded number of claims since November 1973.

The number of U.S. citizens receiving jobless benefits fell by 14,000 to 2.26 million for the week ended July 25, while the unemployment rate among those eligible to receive benefits remained at 1.7 percent.

Since early March, claims remained below the 300,000 level, representing the longest stretch since 1972. The Labor Department’s report due to be released later today is expected to show employers added 225,000 workers in July with unemployment holding at a seven-year low of 5.3 percent, according to Bloomberg Business.

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