According to the latest figures released, the total number of new claims for jobless benefits in the US fell to its lowest level in 6 years.

The data from the Labor Department showed that first-time applications for state unemployment benefits fell 15,000 to a seasonally adjusted 320,000 during the previous week, which is its lowest level in since October 2007. Economists were expecting initial claims to be around 335,000 during the previous week.

The four-week moving average of new applications for state unemployment benefits, which is a more stable measure of unemployment level, fell to its lowest level since November 2007. The data shows that the labour market might be improving after recording a slowdown in the month of July. Experts have said that the level of new claims returning to pre-crisis level indicates that the pace of job creation has helped the job market recover from its slowdown.

Employers added a total of about 162,000 jobs during the month of July when the unemployment level fell to 7.4 per cent, which is its lowest level in a period of more than four years.