U.S. Weekly Jobless Claims Drop To Near 49-Year Low

Americans filing new claims for unemployment aid fell to near a 49-year low last week. Private payrolls rose steadily in August, pointing to sustained labor market strength. The Labor Department said on Thursday initial claims for state unemployment benefits dropped 10,000. The seasonally adjusted 203,000 for the week ended Sept. 1, is the lowest level since December 1969. Economists polled by Reuters had forecast claims rising to 214,000 in the latest week. Economists say given labor market tightness, employers were reluctant to lay off workers.

U.S. Weekly Jobless Claims Drop To Near 49-Year Low