Initial Jobless Claims Lowest in Over Three Years

Washington, DC, Dec. 15, 2011 -- New applications for unemployment benefits declined last week to the lowest level in more than three years ago, according to the Labor Department.

Initial jobless claims fell by 19,000 in the week ending Dec. 10  to 366,000.

The department revised the prior week's reading up to 385,000 from a first estimate of 381,000.

Last week's claims were the lowest since the 366,000 reading in the week ending May 10, 2008.