Initial Jobless Claims Fall 12,000 for Week

Initial jobless claims declined by 12,000 last week to 409,000, the Labor Department said Thursday.

Economists had forecast a rate of 410,000, Bloomberg reported.

The four-week moving average, a less volatile measure, climbed to 410,250, from 408,500.

Continuing jobless claims for the previous week ended Aug. 20 fell by 18,000 to 3.74 million, Labor said.