Washington, Safar 17, 1438, Nov 17, 2016, SPA -- The number of people filing initial applications for U.S. state unemployment benefits fell to the lowest level since 1973 last week, the government reported Thursday, indicating that businesses are confident enough in the economy to retain their workers. The Labor Department said jobless claims fell 19,000 last week to 235,000. Claims have been below 300,000—a level associated with an improving labor market—for 89 consecutive weeks, the longest streak since 1970. The four-week moving average of jobless claims—considered a better measure of labor-market trends because it smoothes weekly volatility—fell to 253,500. The total number of people receiving state unemployment benefits fell 66,000 to 1.98 million last week, the lowest figure in more than 16 years. Businesses are seeking workers and are reluctant to let go any that they have. In such cases, hiring typically is healthy. Companies have slowed their hiring from last year but are adding jobs at an adequate pace to lower the unemployment rate, which currently stands at 4.9 percent. --SPA 18:16 LOCAL TIME 15:16 GMT www.spa.gov.sa/w271643