WASHINGTON – Initial jobless claims fell 5,000 to 388,000 on a seasonally adjusted basis for the week ending Nov. 12, the Labor Department reported Thursday.
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Continuing claims fell to 3.608 million for the week ending Nov. 5, down from 3.665 million, and the lowest since Sept. 20, when they were 3.564 million.
Economists expected 395,000 initial claims and 3.64 million continuing claims, according to the median estimate from Thomson Reuters.
The four-week moving average for initial claims was 396,750, down from the previous week's revised average of 400,750.
The four-week moving average for continuing claims was 3.67 million, down from the preceding week's revised 3.703 million.
