Initial Jobless Claims Fall

Washington, DC, December 13, 2007--Initial jobless claims fell 7,000 to 333,000 in the week ended December 8, the Labor Department said.

Initial claims were at 312,000 during the same period last year.

The four-week moving average for initial jobless claims fell 2,000 to 338,750.

The number receiving benefits increased 38,000 to 2.64 million for the week ended Dec. 1. The four-week moving average for continuing jobless claims rose 18,750 to 2.61 million, which is the highest level since January 2006.

Initial claims indicate job losses, while continuing claims show how quickly displaced workers find new jobs.