Initial Jobless Claims Fell Last Week

Washington, DC, June 3, 2010--Initial jobless claims fell by 10,000 to 453,000 in the latest week, the Labor Department reported.

Economists had expected initial claims to fall to 455,000. Yet the four-week average of initial claims - a better gauge of employment trends than the volatile weekly number - rose by 1,750 to 459,000. It was the third straight increase.