Initial jobless claims fell to 255,000 last week, much lower than expected and the lowest since November 24, 1973.
Economists had forecast that initial filings for unemployment insurance dipped to 278,000 from 281,000 in the prior period, according to Bloomberg.
The four-week moving average of claims fell 4,000 to 278,500.
The period being reported is also the week during which the survey for the monthly jobs report was conducted.
The Labor Department noted no special factors in this week's report.
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US jobless claims are at their lowest in 42 years: pic.twitter.com/e8ESuoKjmX
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