Jobless claims drop below 300,000 last week

The two states were only identified as small and large. 

The four-week average, which provides a better trajectory for the direction of the labor market, fell 7,500 to 321,250, the lowest level since October 2007.

Still, despite the uncertainty surrounding last week's reporting, jobless claims have been on a downward trend this year. 

But the labor market's struggles continue and fewer layoffs aren't translating into what has happened in the past, more robust job creation. 

Employers added 169,000 workers last month and the unemployment rate dropped to 7.3 percent but that improvement was mostly due to workers leaving the labor force.