Jobless Claims Fall for Third Week in Tight U.S. Labor Market

U.S. filings for unemployment benefits fell for a third week and remain near the lowest in almost five decades, indicating a tight job market, Labor Department figures showed Thursday.

While applications can be volatile from week to week, the trend reinforces signs that businesses are holding on to existing staff and adding new workers to help meet demand. Economists will likely pay extra attention to Thursday’s figures because they encompass the 12th of the month, the reference period for the Labor Department surveys that produce the monthly employment figures.