Initial Jobless Claims Drop for Week

Initial jobless claims fell by 12,000 last week to 545,000, the Labor Department said Thursday.

Economists had forecast claims for the week ended Saturday would rise to 557,000 from a previously reported 550,000, Bloomberg reported.

The four-week moving average, a less volatile measure, fell to 563,000 for the week ended Saturday, from 571,750 a week earlier, Labor said.

The number of Americans collecting jobless benefits rose by 129,000 for the previous week ended Sept. 5, to 6.1 million.