The data from
the Labor Department revealed on Thursday the number of applications for
unemployment benefits fell more than expected last week, pointing to sustained
labor market strength.
According to
the report, the initial claims for unemployment benefits decreased 13,000 to a
seasonally adjusted 209,000 for the week ended July 6.
Economists had
expected 223,000 new claims last week.
Claims for the
prior week were revised upwardly to 222,000 from the initial estimate of 221,000.
Meanwhile, the
four-week moving average of claims decreased by 3,250 to 219,250 last week.