Initial jobless claims fell to 278,000, beating economists’ expectations of 275,000.
Jobless claims have remained below the 300,000 threshold for 63 straight weeks.
The 4-week moving average was 275,750, an increase of 7,500 from the previous week’s unrevised average of 268,250, according to Bloomberg.
There are no special factors listed in the report.
Claims last week unexpectedly jumped by 20,000 to 294,000 to hit the highest level since the week of February 28, 2015.