Initial Jobless Claims Lowest in 14 Months

Washington, DC, Nov. 25, 2009--Initial jobless claims fell to 466,000, the lowest level in 14 months, according to a government report released Wednesday.

That's the lowest number in the Labor Department figures since the week ended Sept. 13, 2008, and a decrease of 35,000 from the previous week's downwardly revised figure of 501,000.

A consensus estimate of economists expected 500,000 new claims in the week ended Nov. 21.

The 4-week moving average of initial claims was 496,500, down 16,500 from the previous week's revised average of 513,500.

The government said 5,423,000 people filed continuing claims in the week ended Nov. 14, the most recent data available. That's down 190,000 from the preceding week.

The 4-week moving average for ongoing claims fell by 98,500 to 5,712,250.

But the slide in continuing claims may signal that more filers are falling off those rolls and into extended benefits.