U.S. weekly jobless claims decrease more than forecast

The data from the Labor Department revealed on Thursday the number of applications for unemployment benefits fell more than forecast last week, consistent with strong labor market conditions.

According to the report, the initial claims for unemployment benefits decreased by 8,000 to a seasonally adjusted 211,000 for the week ended November 2. That was the lowest level in a month.

Economists had expected 215,000 new claims last week.

Claims for the prior week were revised upwardly to 219,000 from the initial estimate of 218,000.

Meanwhile, the four-week moving average of claims rose by 250 to 215,250.