U.S. jobless claims drop 20,000 in latest week

WASHINGTON, Nov 9 (Reuters) The number of U.S. workers applying for jobless benefits declined by a steeper-than-expected 20,000 last week to 308,000, government data showed on Thursday, a level indicating still-healthy employment conditions.

The latest figures from the Labor Department cover the week ending Nov. 4 and compare with Wall Street forecasts for claims of 315,000, versus a revised 328,000 the previous week. This was initially reported as 327,000 applications for aid.

A Labor Department official said there were no special factors impacting the data from last week.

The four-week moving average -- seen as a more representative gauge of underlying employment trends - inched down to 311,250 from 311,500 the week before.

The number of people who remained on the benefits rolls after drawing an initial week of aid increased by 43,000 to 2.448 million in the week ended Oct. 28, the latest week for which data are available. This compared with a consensus forecast of 2.43 million claims.

Jobs data are under even closer-than-usual scrutiny after a sharp fall in the unemployment level in October to 4.4 percent, from 4.6 percent the previous month, tightening labor market conditions.

Economists took this as a sign of potential wage inflation pressures that might worry the U.S. Federal Reserve.

REUTERS SBA RN2028