Initial Unemployment Claims Hit 7-Month Low

Washington, DC, Nov. 10, 2011 -- Initial applications for unemployment benefits fell to the lowest level in seven months, according to the Labor Department.

Jobless claims fell by 10,000 to 390,000 in the week ended Nov. 5. The median forecast of economists called for 400,000 new claims.

The Labor Department revised the prior week’s figure to 400,000.

The four-week moving average, a less volatile measure than the weekly figures, fell to 400,000 last week, the lowest since April, from 405,250 the previous week.