The numbers: Initial jobless claims, a way to measure layoffs, sank by 22,000 to 222,000 in the week ended Oct. 14. That’s the lowest figure since March 1973 and well below the 244,000 MarketWatch forecast.

The more stable monthly average of claims declined by 9,500 to 248,250, though it remains somewhat elevated because of the recent hurricanes.

The number of people already collecting unemployment benefits, known as continuing claims, decreased by 16,000 to 1.89 million, the Labor Department said. That’s also a 44-year low.

What happened: New claims for benefits have fallen sharply after a spike last month tied to hurricanes Harvey and Irma, whose disruptions temporarily put many people out of work. Claims are now essentially back to normal in Texas and Florida.

One caveat: Initial claims in Puerto Rico still appear to be artificially low because of major power outages that have made it hard for workers to file applications. Yet even if power were fully restored, the level of claims on the island territory wouldn’t rise enough to alter the broader trends.

Big picture: The U.S. labor market is the strongest in at least a decade in a half, reflecting a sturdy economic expansion now in its ninth year.

The 4.2% unemployment rate is the lowest since 2000, and the biggest complaint among business leaders is a shortage of skilled workers to fill a record number of job openings.

What they are saying?: “There can be little doubt that the labor market is robust,” said Stephen Stanley, chief economist of Amherst Pierpont Securities.

Read:Fed’s Beige Book still can’t find inflation threat, despite labor bottlenecks