Jobless Claims Fall to Lowest Level Since Mid-’08

Initial jobless claims fell to the lowest level since July 2008, the Labor Department reported.

Initial claims fell 22,000 to 432,000 for the week ended Dec. 26, Labor said Thursday.

Economists had forecast the rate to rise to 460,000, Bloomberg reported.

The four-week moving average, a less volatile measure, fell to 460,250.

Continuing jobless claims for the previous week ended Dec. 19 fell 57,000 to the lowest level since February, Labor said.