Jobless Applications Decline Sharply

Washington, DC, Nov. 21, 2012 -- Initial applications for unemployment benefits fell significantly last week to a seasonally adjusted 410,000, although the figure was elevated for the second straight week by superstorm Sandy.

The Labor Department said that applications dropped by 41,000 from the previous week, when the storm drove applications to their highest level in 18 months.

Sandy could distort the data for another week, department officials say.