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Jobless claims four-week average falls 0.9%

October 23 2008

The four-week moving average of initial jobless claims was 480,250, a decrease of 4,500, or 0.9%, from the previous week's revised average of 484,750, the U.S. Department of Labor reported today.

The advance figure for initial unemployment claims was 478,000 for the week ended Oct. 18, up 15,000, or 3.2%, from the previous week's revised figure of 463,000. The effects of Hurricane Ike in Texas added approximately 12,000 claims.

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