New Claims for Jobless Benefits Drop Slightly

The number of workers filing new applications for jobless benefits fell by 3,000 to 402,000 for the workweek ended Sept. 1, from a revised 405,000 in the previous week, the Labor Department said.

Economists were expecting a decline to 398,000 from the 399,000 the department originally reported for the week of Aug. 25.

The more stable four-week moving average of jobless claims increased for the third consecutive week, by 3,500 to 398,000. That’s the highest level since July 21.