The number of people filing initial claims for unemployment benefits sank by 6,000 to 189,000 in the final week of October, tying the July 18 reading that was the lowest level of claims since 1969.
The four-week average of initial claims, which economists look to for the underlying trend in the labor market, fell to 194,750, down from 225,500 a year ago, a decline of 13.6 percent. This matches the reading at the end of September, which was also the lowest since 1969.
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