The number of Americans filing for unemployment benefits fell more than expected last week, underscoring the robustness of the labor market. Initial claims for state unemployment benefits dropped 11,000 to a seasonally adjusted 254,000 for the week ended Nov. 5, the Labor Department said on Nov. 10. It was the 88th consecutive week that claims remained below 300,000, a threshold associated with a healthy labor market. That is the longest stretch since 1970. U.S. stocks pared gains slightly following the data, while the dollar rose modestly against the euro. Economists polled by Reuters had forecast first-time applications for jobless benefits falling to 260,000 in the latest week.
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