According to the latest figures released, the total number of Americans seeking unemployment benefits has fallen by 9,000 during the previous week to a seasonally adjusted 323,000.

The level of 323,000 is the lowest level recorded since June of 2008, indicating that the jobs market in the US might be recovering. The data indicates that the employers in the country are laying off fewer workers as the conditions improve in the world's largest economy. The Labor Department said Thursday that the weekly applications are just 1,000 above its lowest level in five years that was recorded in the previous month.

The four week average of applications seeking unemployment benefits, which is a more stable index of employment trends, fell by 3,000 to 328,500, touching its lowest since October 2007. The encouraging data was published just a day before the government is set to announce is august jobs report. Economists expect August jobs report to show that employers added a total of 177,000 jobs during the month compared to 162,000 in July with unemployment standing at 7.4 per cent.