December 7, 2006 8:45 AM, EST

Initial Jobless Claims Fall for Week

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irst-time U.S. jobless claims fell by 34,000 last week to 324,000, the Labor Department said Thursday.

The level was about in line with economists’ forecasts of a decline to 325,000, Bloomberg reported.

The less-volatile four-week moving average rose to 328,750, the highest since May, from 325,250.

Continuing jobless claims for the previous week ended Dec. 2 rose to 2.524 million from 2.467 million a week ago.