Jobless claims drop to 240000 hottest streak in 43 years
U.S. jobs growth remains on a hot streak, if business at state unemployment agencies is any indication.
New claims for unemployment benefits dropped 5,000 to 240,000 in the last week of July, the Department of Labor reported Thursday.
Investors had expected jobless claims to stay steady at 244,000.
Low jobless claims are a good sign for the economy. Economists calculate that any number below 300,000 means that the unemployment rate is going to stay steady or fall.
And unemployment is already low, at 4.4 percent in June, is already low.