While showing that the first applications for unemployment benefits in the u.s. unexpectedly fell to the lowest level in seven years in the week ended September 7, the Labor Department issued a report on Thursday, the decline was largely due to technical issues in the two countries.
The Labor Department reported initial jobless claims had dropped to 292,000, down 31,000 from the previous week's 323 000.
Significant decline came as a surprise to economists, who were expecting jobless claims to 330,000.
With the unexpected decline, jobless claims dropped below 300,000 for the first time since May of 2007, the lowest level since come in 291,000 in the week ended April 1, 2006.
However, the Labor Department noted that the decrease in jobless claims came as the two countries failed to report all of their claims while upgrading their computer systems.
Labor Day holiday has also [has] impact, "said Peter bokvar, a market analyst in the Group of Lindsay. "Therefore, ignore the number of title".
The report showed that the less volatile four-week moving average fell to 321250, a decrease of $ 7,500 from the previous week's revised average of 328750.
Decrease the recent downward trend extended by four weeks the moving average, which had fallen back to their lowest level since October 2007.
Continuing claims, read the number of people receiving ongoing unemployment assistance, reduced to 2 871 million in the week ended on August 31 of the previous week's revised level of 869 million.
Moving average for continuing claims dropped to 2953000 four weeks, down from the previous week's revised 25768 average 2977750.
Last Friday, the Labor Department issued a separate report shows that employment in the United States rose less than expected in August.
The Labor Department said non-farm Payroll employment increased by 169,000 jobs in August, compared with estimates of economists for increasing employment around 180,000.
The report also showed a significant downward revision of the pace of job growth in July, with revised data showing the added functionality 104,000 compared to the previously reported increase of 162,000 jobs.
Despite the weaker-than-expected job growth, the unemployment rate fell to 7.3 percent in August from 7.4 per cent in July. Economists had expected unemployment to come.
With the unexpected decline, the unemployment rate fell to its lowest level since matching 7.3 per cent in December 2008.
However, the decline in the unemployment rate was due largely to a reduction in the size of the labour force, with the participation rate fell to its lowest level since 1978.
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