US jobless claims down to lowest level in nearly four years

New claims for jobless benefits in the United States declined last week to the lowest level in nearly four years, the Labor Department reported on Thursday.

Analysts said it was a potentially encouraging sign for the US labor market experiencing a strong recovery.

The department reported that new applications for unemployment insurance plunged by a seasonally adjusted 39,000 to 310,000 for the week ending on July 3, the lowest level since October 8, 2000.

The four-week moving average of new claims also dropped last week by a seasonally adjusted 10,250 to 336,000, the lowest level since May 22.

The report showed that the number of people continuing to draw unemployment benefits in the United States declined by 85,000 to 2.87 million for the week ending June 26, the most recent period forwhich this information is available. That compared with 3.7 million a year ago.

Source: Xinhua