WASHINGTON — Initial unemployment claims for the August 10 week were reported down 15,000 to 320,000, their lowest since October 2007. The Labor Department analyst saw nothing unusual to explain the drop (unadjusted claims fell 8,000).

Claims averaged 342,000 in July, 346,000 in June, 352,000 in May, and 343,000 in April. So the latest numbers suggest labor market improvement.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.