Initial Jobless Claims Decline for Week

Initial jobless claims fell by 1,000 to 530,000 last week, while continuing claims fell to the lowest level in seven months, the Labor Department said Thursday.

Continuing jobless for the previous week ended Oct. 17 fell by 148,000 to 5.8 million, the lowest level since March, Labor said.

Economists had forecast continuing claims to fall to 5.9 million, while initial claims were forecast to fall to 525,000, Bloomberg reported.

The four-week moving average, a less volatile measure, fell to 526,250 last week, the lowest level since January, from 532,250.