The number of American workers filing first-time claims for jobless benefits fell by 16,000 last week, the largest drop in nine weeks.
The Labor Department said Thursday that new applications for unemployment insurance totaled a seasonally adjusted 363,000, lowest since 358,000 during the week ended Oct. 21.The drop was the largest since claims fell by 31,000 during the week ended Sept. 23. Claims had jumped by a revised 9,000 during the week ended Nov. 18, to 379,000, rather than by 1,000 as initially estimated.
Many analysts had expected a slight decline last week, which included the Thanksgiving Day holiday and thus fewer days in which to file claims.
The four-week moving average of new weekly jobless claims also fell during the period ended Nov. 25, down 1,000 to 373,250. It was the lowest level since claims averaged 369,000 during the period ended Nov. 11.
Many analysts consider the average more reliable because it smooths out the spikes in the often-volatile weekly reports.
In data reported by states and territories for the week ended Nov. 18, 44 reported increases in claims and nine registered declines. The state data are reported a week later than national totals.
States with the largest increases were Pennsylvania with 12,336 claims; Michigan, 11,858; California, 9,892; Ohio, 8,377, and New Jersey, 5,219.
States with the largest decreases were Texas, 636 claims; New York, 552; Mississippi, 530; Delaware, 394, and Maine, 261.