Data for the prior week was revised to show 1,000 more applications received than previously reported.Economists polled by Reuters had forecast claims edging up to 240,000 in the latest week. The data included last Thursday’s Thanksgiving holiday. Claims tend be volatile around shifting holidays.Last week marked the 143rd consecutive week that claims remained below the 300,000 threshold, which is associated with a strong labor market. That is the longest such stretch since 1970, when the labor market was smaller.The labor market is near full employment, with the jobless rate at a 17-year low of 4.1 percent. The continuing claims data covered the week of the household survey from which November’s unemployment rate will be calculated.Continuing claims increased 57,000 between the October and November survey periods suggesting little change in the unemployment rate this month.

Source: Egypt Today November 30, 2017 16:07 UTC