Economists forecast that first-time filings for unemployment insurance rose by 4,000 to 250,000 last week, according to Bloomberg.
The four-week moving average of claims, which evens out the week-by-week volatility, fell to 244,000 last week, the lowest level since November 3, 1973.
Initial jobless provide an early indicator of a labor-market downturn because layoffs precede filings for unemployment insurance.