Initial Jobless Claims Fall More Than Expected

Washington, DC, Sept. 30, 2010--Initial jobless claims fell 16,000 to 453,000 in the latest week, putting new claims back to where they were at the start of 2010, according to U.S. Labor Department data.

The four-week moving average of new claims fell 6,250 to 458,000, the lowest level since late July.

Continuing claims dropped 83,000 to 4.46 million in the week ended Sept. 18. Altogether, 8.89 million people were getting some kind of benefit in the week ended Sept. 11, down from 9.18 million in the prior week.

Claims were projected to fall to 460,000, according economists.