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Filings for U.S. Jobless Benefits Near Lowest Since 1970s

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Filings for U.S. unemployment benefits fell to near the lowest level since the 1970s, consistent with a still-improving labor market, a Labor Department report showed Thursday in Washington.

Workers, especially those with experience, are become harder to find as the labor market tightens, making employers reluctant to fire staff members amid steady economic growth. Jobless claims have remained below 300,000 for 98 consecutive weeks, the longest streak since 1970 and a threshold economists say is indicative of a healthy labor market.