Jobless Claims Hit Record Low Since April

The number of Americans seeking unemployment benefits has fallen for six consecutive weeks, reaching the lowest level since mid-April, according to the Labour Department's latest report.

For the week ending July 19, jobless claims dipped by 4,000 to 217,000, surpassing analysts' expectations of 227,000 new applications, a positive indicator for the job market.

The four-week average, which helps smooth out weekly fluctuations, also saw a decline, dropping by 5,000 to 224,500. Meanwhile, the number of Americans receiving unemployment benefits as of July 12 remained nearly unchanged, rising slightly by 4,000 to a total of 1.96 million.

(With inputs from agencies.)