US initial jobless claims stay at 4-decade low

US initial jobless claims stood unchanged at 246,000 in the week ended Oct 7, the Labor Department said Thursday. Expectations were for an increase to 254,000 new claims last week.

Unemployment claims for the week ended Sep 30 were revised down from an initially reported 249,000. The latest two weeks registered at the lowest level since November 1973.            

Continuing unemployment claims dropped by 16,000 to 2,046,000 in the week ended Sep 30, marking the lowest level since June 2000.