Initial claims for state unemployment benefits dropped 33,000 to a seasonally adjusted 521,000 in the week ended Oct. 3, the lowest level since early January, the Labor Department said on Thursday.
Analysts polled by Reuters had forecast new claims slipping to 540,000 last week from a previously reported 551,000. A Labor Department official said seasonal factors expected a decline in new claims at the end of a quarter and a rise at the start of a new quarter.
