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Just 3 clicks may be significant - if, say, you'd normally expect 300 for the same number of impressions.
Basing my average on over 1000 clicks a day, I see a fairly stable value for average earnings per click - but this value is steadily reducing - My EPC for the end of October is only about 65% of what is was at the End of August. :(
Number of visits and proportion of clicks per visit are both up, but my return on investment is gradually falling away.
If the site has a lot of visitors, it may be worth considering other avenues to monetise the site. Google works well on some sites, and badly on others. I have one site it works pretty well on, and a couple of others that it doesn't. I tend to use other ad programs on those sites more than adsense.
My main concern is a site i have which gets 600 uniques and around 2k page views a day that returns very very little adsense revenue compared to sites i've built for others on similar traffic.
couple of hundred bucks a month off that would be fantastic, but i'm lucky if it breaks $25.
I think it must be related to Halloween.
People must be carving pumpkins and beating the neighbor kids who come by the house to smash the pumpkins that my kids spent 3 hours working on.
It was worth the three cent pay out to hit them with the end of my scarecrow arm as they ran away screaming.
Hopefully we will see it pickup on Wednesday or Thursday.