WASHINGTON — Initial jobless claims fell by 10,000 to 514,000 for the week ending Oct. 10, the lowest level since January, the Labor Department reported yesterday.
Continuing claims fell 75,000 to 5.992 million for the week ending Oct. 3, dropping below six million for the first time since March. Continuing claims have fallen four consecutive weeks.
Initial claims, which declined to the lowest level since Jan. 3, were revised to 524,000 from 521,000 for the week ending Oct. 3.
Continuing claims for the week ending Sept. 26 were revised to 6.067 million from the 6.040 million initially reported last week.
Economists had expected 525,000 initial claims and 6.01 million continuing claims, according to the median estimate provided by Thomson Reuters.