WASHINGTON (Reuters) - The number of Americans filing new applications for unemployment benefits last week fell to its lowest level in more than 41-1/2 years, suggesting the labor market maintained a solid pace of job growth in July. & o u) k! ?" l0 M* _- F' K9 K0 u* a) M. v7 h8 q; M
The sturdy jobs picture together with a strengthening housing market brings the Federal Reserve a step closer to raising interest rates this year. : T9 _9 g2 q- ~2 u. M0 K+ ~ W# \! e2 H( B/ sInitial claims for state unemployment benefits declined 26,000 to a seasonally adjusted 255,000 for the week ended July 18, the lowest level since November 1973, the Labor Department said on Thursday. : V0 ~9 r( F/ A! x% ]