Initial Jobless Claims Edge Lower

Washington, DC, Oct. 20, 2011 -- Initial claims for unemployment benefits fell last week but the level shows little improvement in overall employment.

Jobless claims dropped by 6,000 to 403,000 in the week ended Oct. 15, the Labor Department said.

The median forecast called for a drop to 400,000 applications. The four-week average fell to the lowest level since April.