Initial Jobless Claims Fall More Than Expected

Washington, DC, June 11, 2009--Initial jobless claims fell more than expected last week, but ongoing claims ticked higher, according to the Labor Department.

There were 601,000 initial jobless claims filed in the week ended June 6, down 24,000 from 625,000 the previous week, the Labor Department said.

Economists expected 615,000 new claims.

The 4-week moving average of initial claims was 621,750, down 10,500 from the previous week's revised-up average of 632,250.