The total number of unemployment claims is down, but it is still higher than in a healthy economy, US Today reports.
The adjusted weekly applications dropped by about 6,000 to 403,000, and the adjust four week average dropped for a fourth consecutive week, the paper reported.
Still, experts are saying this shouldn't be viewed just yet as a sign ther substantial numbers of Americans will be getting back to work.
This decline in initial claims signals the potential for an improvement in the pace of job creation in October relative to recent months, said John Ryding, an economist with RDQ Economics said to the Associated Press. However, we are still waiting for that decisive move in claims below the 400,000 mark to send a stronger signal that payroll growth is running at a pace that will begin to make sustained inroads into unemployment.
USA Today noted that until applications dip below 375,000 there likely isn't serious job growth. That number, the paper reported, hasn't been reached since February.