Jobless Claims Decline for Week

Initial jobless claims declined last week, but the previous week’s claims were revised upward, the Labor Department said Thursday.

Claims dipped by 1,000 for the week ended Saturday to 388,000, Labor said. Claims for the previous week were revised to 389,000, the highest since Jan. 7, from the initially reported 386,000.

Economists had forecast a drop to 375,000 new claims, Bloomberg reported.

The four-week moving average, a less volatile measure, climbed to 381,750, from 375,500.

Continuing jobless claims for the previous week ended April 14 rose to 3.32 million, from 3.31 million.