iStock/Thinkstock(WASHINGTON) — Jobless claims slumped last week, increasing by 7,000, according to the latest figures released Thursday by the Labor Department.
For the week ending Oct. 29, the number of people filing for benefits rose from a unrevised level of 258,000 the previous week to 265,000, marking the 87th consecutive week initial jobless claims came in below 300,000. It’s the longest streak since 1970, the Labor Department says.
The Labor Department said there were no “special factors” impacting that week’s figures.
The four-week moving average increased by 4,750 to 257,750.
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