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Economic Report: Jobless claims dip to 266,000

Bloomberg

A recruiter shakes hands with a job seeker during a career fair at San Francisco State University in San Francisco, California.

The number of people filing for unemployment benefits declined 1,000 to a seasonally adjusted 266,000 in the August 6 week, the Labor Department said Thursday.

Initial claims have been below the key 300,000 threshold for 75 weeks in a row, the longest such streak since 1970.

Economists surveyed by MarketWatch had forecast claims would total 265,000.

The 4-week moving average, which smooths out weekly volatility, rose 3,000 to 262,750.

Continuing claims rose by 14,000 and totaled 2.16 million in the most recent week.

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