Jobless Claims Fall 13,000 for Week

Initial jobless claims fell by 13,000 last week to 432,000, the Labor Department said Thursday.

Economists had forecast claims would fall to 440,000, Bloomberg reported.

The four-week moving average, a less volatile measure, rose to the highest in seven years.

Continuing claims dipped 17,000 3.362 million for the previous week ended Aug. 9, Labor said.