- Weekly jobless claims totaled 326,000 last week, a drop of 38,000 from the previous week and below estimates for 345,000.
- Continuing claims fell to 2.71 million, a decline of 97,000.
- The total of those receiving benefits under all programs tumbled to 4.17 million as enhanced pandemic-related programs ran out.
The total of Americans submitting jobless claims fell sharply last week as enhanced federal unemployment benefits wound down, the Labor Department reported Thursday.
Initial filings for unemployment benefits totaled a seasonally adjusted 326,000 for the week ended Oct. 2, below the 345,000 Dow Jones estimate and a drop from the previous week's 364,000.
A notable change occurred in those receiving benefits under all programs.
That total, which runs through Sept. 18, dropped by 854,638, almost all of which came from pandemic-related programs and extended benefits. There are now 4.17 million workers getting benefits, compared with just over 5 million for the previous week and 24.6 million a year ago.
California accounted for a big chunk of the drop in initial claims, with a decrease of 10,513, according to unadjusted numbers. The District of Columbia saw a decline of 3,951 and Texas was down 3,099.
The report comes a day ahead of the Labor Department's nonfarm payrolls tally for September. Economists expect that report to show an increase of 500,000 jobs and an unemployment rate decline to 5.1%.
Correction: Economists expect the Labor Department's nonfarm payrolls tally for September to show an increase of 500,000. An earlier version misstated the figure.
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