The number of jobless claims filed by U.S. workers declined by 4,000 filings to a total of 323,000 claims for the week ending May 4, the Labor Department said.
Claims for unemployment have steadily declined over the past few weeks, with the last report showing an 18,000 drop in filings.
The four-week moving average for jobless claims also fell by 6,250 filings to 336,750 claims in the most recent report.
"Jobless claims are offering solid signs of improvement in the labor market. Initial claims are down for a third straight week, 4,000 lower in the May 4 week to a new recovery low of 323,000," an analyst with Econoday said.