Initial Jobless Claims Decline

Washington, DC, Oct. 21, 2010 -- Initial jobless claims fell 23,000 to 452,000 in the week ended Oct. 16, the U.S. Labor Department reported Thursday.

Economists had expected initial claims to fall to a seasonally adjusted 450,000.

The four-week moving average of new claims, a more accurate gauge of employment trends, fell 4,250 to 458,000. New claims are down from a recent peak of about 500,000 in August.

Continuing claims, those for workers already receiving unemployment checks, dropped 9,000 to 4.44 million in the week ended Oct. 9.