Jobless claims for the latest week came in lower than expected this morning (332K vs. 340K). This week's reading of 332K represents the second lowest reading in the post-expansion period, and it continues to highlight steady improvement in the employment sector.
With this week's decline, the four-week moving average dropped by nearly 3K from 349.5K down to 346.8K. This is not only the lowest reading of the post-recession period, but it is also the lowest reading since March 2008.
Even on a non-seasonally adjusted (NSA) basis, claims were also positive, dropping by more than 20K down to 315.4K. For the current week of the year, this is the lowest reading since 2007, and it's well below the historical average of 377K for the current week going back to 2000.