Jobless Claims Drop 11,000 Last Week

Washington, DC, November 21, 2007—Jobless claims dropped 11,000 to 330,000 in the week that ended November 17, according to the Labor Department. The level matched the forecasts of economists.

The four-week moving average dropped to 329,750 from 330,500.

The number of people continuing to collect state jobless benefits rose to 2.566 million in the week ended Nov. 10, from 2.559 million the prior week. The unemployment rate among people eligible, which tends to track the U.S. jobless rate, held at 1.9 percent. These data are reported with a one-week lag.