WASHINGTON (Reuters) ? New claims for unemployment benefits fell last week, according to a government report on Thursday that showed layoffs in recent weeks had dropped to levels last seen in April.
Initial claims for state unemployment benefits slipped 6,000 to a seasonally adjusted 403,000, the Labor Department said. Economists had forecast claims falling to 400,000.
The four-week moving average of claims, considered a better measure of labor market trends, dropped 6,250 to 403,000 -- the lowest level since mid-April.
Michael Woolfolk, senior currency strategist at BNY Mellon in New York, said recent data on payrolls and retail sales had "effectively removed the double-dip scenario for the U.S."
"The weekly fall in jobless claims adds to this, and the four-week moving average continues to drift lower. But we are still a long distance from the 200,000 new jobs a month we need for a sustainable improvement in the unemployment rate," he said.
The claims data covered the survey week for the government's closely watched nonfarm payrolls count for October.
First-time applications for jobless aid fell 25,000 between the September and October survey periods, suggesting a step-up in nonfarm employment after payrolls increased 103,000 last month.
U.S. stock index futures trimmed gains slightly after the report, while Treasury debt prices extended losses. The dollar rose against the yen.
An anemic economic recovery has left job growth frustratingly slow and the unemployment rate stuck above 9 percent.
But the claims report implied employers were not aggressively laying off workers, despite an uncertain economic outlook. It was the latest in a series of data to suggest a pick-up in economic activity after a weak first half.
After spiking in mid-September, jobless claims appear to have settled near the 400,000 mark that is usually associated with some improvement in the jobs market.
A Labor Department official said there was nothing unusual in the state-level data and no states were estimated.
The number of people still receiving benefits under regular state programs after an initial week of aid rose 25,000 to 3.72 million in the week ended October 8.
Economists had forecast so-called continuing claims rising to 3.69 million.
The number of Americans on emergency unemployment benefits fell 48,981 to 2.97 million in the week ended October 1, the latest week for which data is available.
A total of 6.70 million people were claiming unemployment benefits during that period under all programs, down 124,239 from the prior week.
(Reporting by Lucia Mutikani; Editing by Andrea Ricci)
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