Initial jobless claims for the week ending October 6 dropped to 339,000 from 369,000 a week ago.
Economists surveyed by Bloomberg expected the number to tick up to 370,000.
The four week moving average fell to 364,000 from a previous average of 375,000.
From the BLS:
The largest increases in initial claims for the week ending September 29 were in New York (+2,764), California (+2,069), North Carolina (+1,217), Pennsylvania (+989), and Arkansas (+538), while the largest decreases were in Mississippi (-3,393), Michigan (-2,639), Florida (-1,972), Ohio (-1,723), and Oregon (-1,135).
For some context, here’s a historical look courtesy of Reuters’ chart guru Scott Barber:
Photo: Scott Barber / Thomson Reuters Datastream