Initial Jobless Claims Fall

Washington, DC, April 29, 2010--Initial jobless claims decreased by 11,000 in the week ended April 24 to a seasonally adjusted 448,000, the Labor Department reported Thursday.

While claims are down about 28% from the prior year, the level would have to shrink to about 400,000 to indicate a strong hiring trend, economists say.

The number of people collecting regular state benefits dropped 18,000 to a seasonally adjusted 4.65 million in the week ended April 17. The four-week average of continuing claims fell 9,000 to 4.64 million, the lowest level since January 2009.