Jobless Claims Fall for Week

Initial jobless claims fell by 20,000 last week but those collecting continuing claims reached another new record, the Labor Department said Thursday.

Claims for the week rose to 654,000, Labor said in its weekly report. Economists had forecast a decline to 660,000, Bloomberg reported.

The number of Americans collecting jobless benefits rose to a record 5.84 million in the previous week ended March 28.

The four-week moving average, a less volatile measure, fell to 657,250, from 658,000 a week earlier.