Jobless Claims Drop for Week

Initial jobless claims fell by 14,000 last week, the Labor Department said Thursday.

The decline to 460,000 claims for the week ended Saturday was higher than economists’ forecasts of a decline to 455,000, Bloomberg said.

The four-week moving average, a less volatile measure, rose to 456,500, from 454,250 the previous week.

Continuing claims for the previous week ended May 15 fell 49,000 to 4.61 million, the lowest level since March 27.