WASHINGTON — Initial claims for U.S. state unemployment dropped 53,000 to 357,000 in the April 5 week, the biggest drop since September 2005 and well under expectations, the Employment and Training Administration reported yesterday.
The week’s level was the lowest since the March 8 week. Analysts expected initial jobless claims to rise to 385,000. The previous week’s initial claims level was revised up to 410,000 from the original 407,000. No special factors were cited by the ETA analyst but he did say the change was “more of a correct” in the volatile seasonal factors.