Private payrolls, low jobless claims underscore U.S. labor market strength | Reuters: "Claims have now been below 300,000, a threshold associated with a healthy labor market, for 70 straight weeks, the longest stretch since 1973. The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 2,500 to 264,750 last week. Claims were low through June, backing views that May's weak payroll gains were not a true reflection of the labor market.
The claims report showed the number of people still receiving benefits after an initial week of aid dropped 44,000 to 2.12 million in the week ended June 25. The four-week average of the so-called continuing claims rose 3,000 to 2.15 million."
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