New claims for unemployment insurance fell by more than expected in the final week of October, according to information released on Thursday by the Labor Department.
The number of unemployed people is an important signal of overall economic heath.
For the week ended October 29th, the seasonally adjusted level of new claims for unemployment came in at 397,000 a drop of 9,00 from the previous week revised level of 406,000.
The total number of people claiming unemployment insurance, a figure known as contunuing claims, dropped by 15,000 to 3.683 milion for the week ended October 22nd. Most economists had predicted that continuing claims would fall to 3.675 milion.
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