Initial Jobless Claims Rise for Week

Initial jobless claims fell by 11,000 last week to 330,000, the Labor Department said Wednesday.

Claims for the week ended Nov. 17 followed an increase to 341,000 in the prior week that was larger than initially reported, Bloomberg said.

The latest decline in claims was consistent with economists’ forecasts, Bloomberg reported.

The less-volatile four-week moving average dropped to 329,750, Labor said.

The number of people continuing to collect benefits rose to 2.566 million for the previous week ended Nov. 10, from 2.559 million the previous week.