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Updated:
12/3/2009 8:40:00 AM
Initial Jobless Claims Fall to One-Year Low
Initial jobless claims fell to their lowest level in a year, the Labor Department reported Thursday.
Claims fell 5,000 to 457,000 for the week ended Saturday, Labor said.
Economists had forecast the rate to rise to 480,000, Bloomberg reported.
The four-week moving average, a less volatile measure, fell to 481,250, from 495,500 the previous week.
Continuing jobless claims for the week before last that ended Nov. 21 rose 28,000 to 5.47 million, Labor said.
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