Jobless claims drop sharply in latest week

WASHINGTON (MarketWatch)
First-time claims for state unemployment benefits fell sharply in the latest week to their lowest level since February 2008, the Labor Department reported Thursday
The number of initial claims in the week ending Oct. 6 fell 30,000 to 339,000
The decline was unexpected
The consensus forecast of Wall Street economists was for claims to rise 1,000 to 368,000
The four-week average fell 11,500 to 364,000
This is the lowest level since late March
Claims in the previous week were revised to an increase of 6,000 to 369,000 compared with the initial estimate of a gain of 4,000 to 367,000