Economic news

U.S. jobless claims falls to lowest level in 44 years

The number of Americans who applied for unemployment insurance slumped 22,000 to a seasonally adjusted 222,000 last week, its lowest level since 1973, Labor Department reported.

Economists predicted claims sliding to 240,000 in the latest week.

The labor market recovers as people are returning to work after the devastating hurricanes "Irma" and "Harvey" that hit Texas and Florida last month.

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