More possibility for USA to raise interest rate

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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.

The sturdy jobs picture together with a strengthening housing market brings the Federal Reserve a step closer to raising interest rates this year.

Initial 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.