Initial Jobless Claims Fall 24,000 for Week

Economists had called for a rate of 415,000, Bloomberg reported.

The prior week’s claims, initially reported at 418,000, were revised to 422,000.

The four-week moving average, a less volatile measure, fell to 413,750, from 422,250.

Continuing jobless claims for the previous week ended July 16 dropped by 17,000 to 3.7 million, Labor said.