Quote:U.S. filings for unemployment benefits unexpectedly fell for a third straight week to a new 49-year low, indicating a tight job market, Labor Department figures showed Thursday, Sept. 20

Jobless claims for the week ending Sept. 15 decreased by 2,000 to 201,000, the lowest since November 1969, from an unrevised 204,000. Continuing claims fell by 55,000 to 1.645 million in the week ended Sept. 8, the lowest since August 1973; those data are reported with a one-week lag.

The four-week average of initial claims, a less-volatile measure than the weekly figure, dropped to 205,750, the lowest since December 1969, from 208,000.

The decline in applications suggests that the September payrolls report may show another solid gain. The claims data, covering the week containing the 12th of the month, coincide with the reference period for the Labor Department's survey for the monthly figures. Businesses are holding on to existing staff — besides adding new employees — amid a shortage of skilled workers.