Investing.com - The number of people who filed for unemployment aid fell from a 14-month high last week.
Initial jobless claims fell by 16,000 to 278,000 the Labor Department said.
Economists had forecast initial claims falling to 275,000 in the latest week.
It was the biggest drop since February and snapped three consecutive weeks of increases.
Claims have now remained below the 300,000 mark, which is associated with strong labor market conditions, for 63 weeks.