Initial Jobless Claims Fall to Six-Week Low

Washington, DC, Nov. 3, 2011 -- Initial applications for unemployment benefits fell last week to the lowest level in six weeks, according to the Labor Department.

Initial jobless claims dropped 9,000 to 397,000 in the week ended Oct. 29. Initial claims from two weeks ago were revised up to 406,000 from an original reading of 402,000.

The level of weekly claims has hovered near the 400,000 mark for the past five months.

Meanwhile, the number of Americans who continue to receive regular state unemployment checks declined by 10,500 to 3.70 million in the week ended Oct 22. Continuing claims are reported with a one-week lag.