Only 265,000 Americans filed for unemployment compensation last week, the smallest amount of claims in almost 15 years, according to the Labor Department.

According to Reuters, analysts had predicted 300,000 claims for the week ending Jan. 24. The amount of filings signals a better labor market and a healthy economy.

Bloomberg surveyed 51 economists, and the average of their predictions was also 300,000.

"The labor market's in good shape going into 2015 and looks like it will be in good shape for the rest of the year," said Guy Berger, an economist at RBS Securities Inc. in Stamford, Connecticut. "There's nothing wrong and almost everything right with the economy right now."

Last week was shortened by Martin Luther King Jr. Day, so the amount of claims could be skewed. Still, economists have a positive outlook.

"Claims are a welcome shot in the arm for those believing the economy is strong. The U.S. remains an oasis of prosperity in the world and will continue to do so," said Chris Rupkey, chief financial economist at MUFG Union Bank in New York, according to Reuters.

The drop from 308,000 was the biggest single-week decline since November 2012.

Economists believe the 308,000 report for the week ending Jan. 17 was just the result of "noise" and difficulties in adjusting data for the change of the year and seasonal worker dismissals.

A more reliable scale on unemployment claims is the four-week moving average. That number fell to 298,500 claims per week, down 8,250.

The economy is improving, and consumer spending is expected to increase by 4 percent in the last three months of 2014. That is the highest increase in four years.

What do you think of the job market? Is it strong? Leave us a comment below and let us know what you think.

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