WASHINGTON — Initial jobless claims dropped by 10,000 to 382,000 for the week ending April 2, the lowest level in five weeks, as the four-week moving average for initial claims declined for the first time in three weeks, the Labor Department reported Thursday.
Continuing claims dipped by 9,000 to 3.723 million for the week ending March 26.
Economists expected 385,000 initial claims and 3.7 million continuing claims, according to the median estimate from Thomson Reuters.
Initial claims for the week ending March 26 were revised higher to 392,000 from 388,000 reported last week.
The four-week moving average for initial claims, a less volatile figure, slipped to 389,500. The four-week average has held below 400,000 since Feb. 26.