WASHINGTON — New applications for US unemployment benefits fell more than expected last week by 23,000 to a seasonally-adjusted 381,000, the Labor Department said Thursday, hitting the lowest level since February.

Economists surveyed by Dow Jones Newswires expected claims to drop by 7,000 to 395,000.

The four-week moving average, which is considered less volatile than the headline figure, dropped 3,000 to 393,250, marking the lowest level since April.

Claims in the previous week were revised higher to an increase of 8,000 to 404,000, compared with the initial estimate of a 6,000 gain to 402,000.

A Labor Department official said that seasonal factors were at play in the large decline. Seasonal factors had expected a larger increase than actually occurred.

US stock futures pared some losses immediately after the report, to trade slightly higher.