OBOOMA:

Initial claims for state unemployment benefits were unchanged at a seasonally adjusted 246,000 for the week ended Oct. 8, the lowest reading since November 1973, the Labor Department said.

Claims for the prior week were revised to show 3,000 fewer applications received than previously reported.

It was the 84th consecutive week that claims remained below the 300,000 threshold, which is associated with robust labor market conditions.

That is the longest stretch since 1970, when the labor market was much smaller.

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