The number of Americans applying for unemployment benefits unexpectedly fell last week, pointing to a tightening labor market.
Initial claims for state unemployment benefits slipped 1,000 to a seasonally adjusted 267,000 for the week ended May 28, the Labor Department said on Thursday. Claims for the prior week were unrevised.
Economists polled by Reuters had forecast initial claims rising to 270,000 in the latest week. Claims have now been below 300,000, a threshold associated with a strong job market, for 65 straight weeks, the longest streak since 1973.