The US labor market continues to show stability signals. Claims for unemployment benefits declined for a third consecutive week to its lowest level since 1973, according to data from the Labor Department. The documents submitted decreased by 4,000 to 232,000.
The four-week average value, which is less volatile, is down to 240,750.
Human resources managers in US companies are more busy looking for employees than cutting staff, as unemployment is at a level that signals full employment.
The unemployment benefits are under 300,000 for over 2 years now, and this is also a sign that the US economy will withhold planned increases in interest rates.
The rock-bottom figures add to evidence that companies are holding onto workers and hiring at a steady pace. Americans are spending more, factories have cranked up output and home sales are strong, boosting the economy after it barely expanded in the first three months of the year.