US jobless claims drop last week

WASHINGTON - The number of people filing for US unemployment benefits fell by 7,000 in the week which ends Feb 17, signaling strong momentum in US labor market, said the Labor Department on Thursday.

The seasonally adjusted figure of initial jobless claims across the country was 222,000, a decrease of 7,000 from the previous week's revised level. The four-week moving average was 226,000, a decrease of 2,250 from the previous week's revised average.

Last week marked the 155th straight week that the figure remained below the 300,000 threshold, which is associated with a strong labor market. Claims fell to 216,000 in mid-January, which was the lowest level since January 1973.

With the unemployment rate at a 17-year low of 4.1 percent, the US labor market is near full employment.