The U.S. Labor Department released its jobless claims figures on Thursday. The number of initial jobless claims in the week ending April 16 in the U.S. decreased by 6,000 to 247,000 from 253,000 in the previous week. It was the lowest level since the week of November 24, 1973.

Analysts had expected jobless claims to rise to 263,000.

Jobless claims remained below 300,000 the 59th straight week. This threshold is associated with the strengthening of the labour market.

Continuing jobless claims decreased by 39,000 to 2,137,000 in the week ended April 09. It was the lowest level since November 2000.