Initial Jobless Claims Fall Second Straight Week

Washington, DC, March 11, 2010--Initial jobless claims fell by 6,000, the second decline in a row, according to the Labor Department.

In the week ended March 6, initial claims fell to a seasonally adjusted 462,000 from a revised 468,000 in the prior week.

Economists were expecting claims to dip to 460,000.

The four-week average of initial claims rose by 5,000 to 475,500. That's the highest rate since late November.

Similarly, the number of people continuing to receive regular unemployment checks climbed 37,000 in the week of Feb. 27 to a seasonally adjusted 4.56 million.

Jobless claims are 7% higher compared to the end of 2009.