Jobless Claims Drop for Week

Initial jobless claims fell by 29,000 last week, the Labor Department said Thursday.

Claims fell to 469,000, which was in line with economists’ forecasts, Bloomberg reported.

The four-week moving average, a less volatile measure, fell to 470,750, from 474,250 the previous week.

Continuing jobless claims for the previous week ended Feb. 20 fell 134,000 to 4.5 million, the fewest since January 2009.