The US four-week moving average of initial claims for unemployment insurance fell to 260,750 last week, down 500 from the previous week’s unrevised average, according to seasonally adjusted numbers released today by the US Department of Labor.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended Sept. 10 were 260,000, up 1,000 from the previous week’s unrevised level.

This marks 80 consecutive weeks of initial claims below 300,000, the longest streak since 1970.

No special factors affected this week’s initial claims.

Bloomberg reports the four-week average of jobless claims hit the lowest level since the end of July. And initial applications for unemployment insurance are staying close to a four-decade low as companies with a record number of job openings keep workers on board. The figures are consistent with tight labor conditions, which Federal Reserve policy makers will consider when they gather next week to debate whether to raise interest rates.