Jobless Claims Drop for Week

Claims fell to 448,000 for the week ended Saturday, the lowest level in a month, Labor said. The level was slightly higher economists' forecasts of 445,000 claims, Bloomberg said.

The four-week moving average, a less volatile measure, rose to 462,500, from 461,000 the previous week.

Continuing claims for the previous week ended April 17 fell by 18,000 to 4.65 million, though that figure does not include those receiving extended unemployment benefits. Those claims were forecast to fall to 4.62 million.