US jobless claims fall to near 42-year low

The number of Americans filing new applications for jobless benefits fell more than expected to a near 42-year low last week, pointing to ongoing tightening in the labor market despite the recent slowdown in hiring.

For the week ended Oct. 3, initial claims for unemployment benefits fell by 13,000 to a seasonally adjusted 263,000.

That's the lowest since mid-July, when claims were the lowest they've been since 1973.

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