Jobless Claims Fall for Third Week

Initial jobless claims fell for a third straight week, the Labor Department said Thursday.

Claims fell by 10,000 last week to 425,000, Labor said. The level matched economists’ projections, Bloomberg reported.

The four-week moving average, a less volatile measure, fell to 440,250 from 446,250.

The number of continuing claims rose to 3.423 million for the previous week ended Aug. 16, the highest level in five years, Labor said.