Jobless Claims Fall to January Level

Initial jobless claims fell last week to their lowest level since January, the Labor Department said Thursday.

Claims for the week ended Saturday dropped to 565,000 from a revised 617,000 the previous week, Labor said.

The four-week moving average, a less volatile measure, fell to 606,000, from 616,000 a week earlier, Labor said.

The number of Americans collecting jobless benefits rose by 159,000, the most since early May, in the week ended June 27. The number hit 6.88 million, a new record.