In the four-week period ending May 16, the average number of jobless claims decreased to 266,250, a 15-year low, according to a Labor Department report released Thursday.
Bloomberg notes that the decrease in the average number of Americans who filed for unemployment benefits is "a sign the labor market continues to strengthen." The four-week claim average was the lowest since April 15, 2000.
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"It's indicative of a labor market that's showing no signs of reversal, even if the pace of job growth is going to slow," Eric Green, head of U.S. economic research at TD Securities USA LLC, told Bloomberg.
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