Jobless claims fall 24,000 in latest week

WASHINGTON (BestGrowthStock) – Claims for unemployment benefits fell more than expected and a moving average fell to a two-year low, pointing to some relief in the weak jobs market, a government report showed on Wednesday.

Initial claims for state unemployment benefits fell to a seasonally adjusted 435,000 in the week to November 6 from a revised 459,000, the Labor Department said. Analysts were expecting claims to slip to 450,000 from an initially reported 457,000.

The four-week moving average of claims, considered a better measure of underlying market trends, eased to 446,500, the lowest since September 2008.

(Reporting by Mark Felsenthal; Editing by James Dalgleish)

Jobless claims fall 24,000 in latest week