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Initial jobless claims down 1,000

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6/30/2011 8:45:00 AM

Initial jobless claims fell by 1,000 to 428,000 last week, the Labor Department said Thursday.

Economists had called for a rate of 420,000, Bloomberg reported.

The four-week moving average, a less volatile measure, increased slightly to 426,750, from 426,250.

Continuing jobless claims for the previous week ended June 18 fell by 12,000 to 3.7 million, Labor said.

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Emil Estafanous, CPA, CFF, CGMA