Jobless claims fall 23,000 to 381,000

WASHINGTON (MarketWatch)
First-time claims for state unemployment benefits fell sharply in the latest week to their lowest level since February, the Labor Department reported Thursday.
The number of initial claims in the week ending Dec. 3 fell 23,000 to 381,000.
The consensus forecast of Wall Street economists was for claims to fall 9,000 to 393,000.
The four-week average dropped 3,000 to 393,250.
Claims in the previous week were revised to an increase of 8,000 to 404,000 compared with the initial estimate of a gain of 6,000 to 402,000.
A Labor Department official said that seasonal factors were at play in the large decline. Seasonal factors had expected a larger increase than actually occurred.