Initial Jobless Claims Down More Than Expected

Washington, DC, Nov. 10, 2010 -- Initial jobless claims fell 24,000 last week to 435,000, according to the Labor Department.

Economists had expected initial claims to fall to a seasonally adjusted 450,000 in the week ended Nov. 6.

The four-week average of initial claims, meanwhile, sank to its lowest level in two years -- down 10,000 to 446,500. 

Continuing claims declined by 86,000 to 4.30 million.