Weekly U.S. jobless claims fall 5,000 to 388,000

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Weekly U.S. jobless claims fall 5,000 to 388,000 (by Jeffry Bartash)

WASHINGTON (MarketWatch) - New applications for unemployment benefits fell last week by 5,000 to a seasonally adjusted 388,000, the lowest level since early April, the Labor Department said Thursday. Economists surveyed by MarketWatch had expected new requests for jobless benefits to rise to 397,000 in the week ended Nov. 12. Claims in the prior week were revised up to 393,000 from an original reading of 390,000. The average of new claims over the past four weeks, meanwhile, dropped by 4,000 to 396,750, also the lowest level since early April. Continuing claims declined by 57,000 to 3.61 million, and a total of 6.77 million people received some kind of state or federal benefit in the week ended Oct. 29.

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