Initial jobless claims slumped 27,000 to 300,000 in the week ended May 24, the Labor Department said Thursday.
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Claims for the week ended May 17 were revised to 327,000 from the 326,000 initially reported.
Continuing jobless claims were 2.631 million in the week ended May 17, down from the upwardly revised 2.674 million the week before, first reported as 2.653 million.
Economists polled by Thomson Reuters expected 315,000 initial and 2.650 million continuing claims.
The four-week average of initial claims were down 11,250 in the week ended May 24 to 311,500, their lowest level since the week ended Aug. 11, 2007.
