Initial jobless claims fell slightly to 404,000 on a seasonally adjusted basis for the week ending Oct. 8, the Labor Department reported Thursday.
Continuing claims fell to 3.670 million for the week ending Oct. 1, the lowest since 3.659 million on April 16. A Labor official said there was little movement in the claims figure because it was the first full week of the calendar quarter.
Economists expected 405,000 initial claims and 3.700 million continuing claims, according to the median estimate from Thomson Reuters.
Initial claims for the previous week ending Oct. 1 were revised to 405,000. Continuing claims for the preceding Sept. 24 week were revised to 3.725 million.
The four-week moving average for initial claims was 408,000, down from the previous week’s 415,000. The four-week average for continuing claims was 3.724 million, down from the preceding week’s revised 3.745 million. In unadjusted numbers, 30 states reported increased claims, while 23 states reported declines.
Because Monday was a federal holiday, more states estimated claims, a Labor Department official said. Four states provided estimates: California, Indiana, Maryland and Virginia.
The District of Columbia did not submit any estimates and asked the department to provide them, he said.
