Initial claims decline by 10,000 as expected
Initial jobless claims fell by 10,000 to 265,000 this week, matching forecasts, according to the Department of Labor.
It was the 95th week with claims under 300,000, the longest streak since 1970. The Labor Department reported no special factors influencing this week's report.
The four-week average of claims, which evens out volatility, fell by 750 to 263,000.
Initial claims provide a reading of the labor market's health and the pace of layoffs.
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