In the week ending September 3, initial claims for unemployment insurance fell 4,000 from the previous week to 259,000—their lowest level in seven weeks. The four-week moving average, a less volatile gauge that helps even out short-run swings in the data, fell 1,750 to 261,250. Jobless claims have remained below 300,000 for 79 consecutive weeks, the longest such stretch since 1970, signaling continued strengthening in the labor market.
