Jobless Claims Dip for Week

Initial jobless claims dipped by 1,000 last week to 404,000, the Labor Department said Thursday.

Economists had forecast 405,000 claims, Bloomberg reported.

The four-week moving average, a less volatile measure, declined to 408,000, a two-month low, from 415,000.

Continuing jobless claims for the previous week ended Oct. 1 fell by 55,000 to 3.67 million, Labor said.