The number of Americans filing first-time claims for unemployment insurance fell by 12,000 last week from the week before, to 409,000, the Employment and Training Administration just reported.
It adds that "the 4-week moving average was 410,250, an increase of 1,750 from the previous week's revised average of 408,500."
Reuters says the reports signals that there's "little sign of a pick-up in layoffs in the wake of a slump in business and consumer confidence."
We'll learn much more about the labor market Friday at 8:30 a.m. ET, when the Bureau of Labor Statistics releases the August employment and unemployment figures.