Continuing Jobless Rolls Reach Record

Initial jobless claims fell last week by 12,000 last week but the number of Americans collecting jobless benefits rose to a record 5.47 million, the Labor Department said Thursday.

Weekly jobless claims fell to 646,000, while the number of people receiving continuing claims jumped by 150,000 in the previous week ended March 7, Labor said.

The four-week moving average, a less volatile measure, rose to 654,750, from 651,000 the previous week.