Reports continue to be good news for President Obama's reelection campaign. (Creative Commons)

In the week that ended Oct. 6, initial claims for unemployment benefits numbered 339,000, showing a decline of 30,000 from the prior week. This is the lowest number of new claims since February 2008.

ALSO SEE: Employment Figures Show Decrease In Jobless Rate

Claims numbers can be unpredictable from week to week and the drop will probably be met with skepticism as was the government report released last Friday that said the jobless rate fell to 7.8% in September from 8.1% in August .  

Analysts said the Thursday report might exaggerate what appears to be only a moderate improvement.  Regardless, economists see signs of the labor market getting stronger.

ALSO SEE: Romney Disputes Unemployment Rate

The figures come at a crucial time for President Obama who has been criticized by Republican candidate Mitt Romney for mismanaging the economy.

The jobless rate is the lowest it has been since Obama took office in 2009.  September's report, which dropped the rate below 8 percent, was crucial in the presidential race.  A president has never been reelected with an unemployment rate above 8 percent.

ALSO SEE: Unemployment Drop Brings Good News For Obama Campaign

Reach Executive Producer Lauren Foliart here.