Jobless aid claims near all-time low

Fewer Americans sought unemployment benefits last week as the figure stayed close to historic lows in a sign that the job market is healthy.

The Labor Department said Thursday that applications for jobless aid fell 5,000 to a seasonally adjusted 229,000 last week. The four-week average, a less volatile measure, dropped to a 44-year low of 232,500.

The four-week average was previously that low in April 1973, when the U.S. economy had a smaller population and fewer total workers.

The total number of people collecting benefits is also at a nearly 44-year low. There were 1.88 million people receiving jobless aid, a 7.9 percent drop over the past year and the best reading since December 1973.

U.S. economic growth has accelerated i n the past six months after a weak start to the year. The report suggests that employers are holding on to their workers and possibly seeking to add jobs.

Economists forecast that the Labor Department’s report for October, to be released Friday, will show a robust gain of 308,000 jobs.

Parts of Texas, Florida, Louisiana and Puerto Rico are starting to rebuild from the damage caused by hurricanes Harvey, Irma and Maria. A private survey released Wednesday showed a surge of construction sector hiring in October.

Puerto Rico also has begun to process backlogged claims for unemployment benefits after facing disruptions due to the hurricanes, the government said.