Initial jobless claims fall

First-time claims for unemployment benefits decline more than expected to 453,000.

By TheStreet Staff Sep 30, 2010 10:18AM

By Andrea Tse, TheStreet

 

Initial jobless claims numbers came in better than expected for the week ended Sept. 25, with the advance figure for seasonally adjusted first-time claims at 453,000, a decrease of 16,000 from the previous week's revised figure of 469,000, according to a Labor Department report.

 

The 469,000 figure was revised from 465,000.

 

Economists on average expected 460,000.

The four-week moving average was 458,000, a decrease of 6,250 from 464,250 the week before. The Labor Department also said the advance number for seasonally adjusted insured unemployment during the week ending Sept. 18 was 4,457,000, a decrease of 83,000 from the preceding week's revised level of 4,540,000.

 

The better-than expected drop came as the government said Thursday that the U.S. economy grew at an annual rate of 1.7% in the second quarter.

 

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