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.