WASHINGTON — Initial claims for U.S. unemployment fell 16,000 to 461,000 in the Oct. 11 week, the previous week’s level, the Labor Department reported yesterday.

Forecasts in a Market News International survey of economists had centered on 470,000 new claims.

The previous week’s initial claims level was revised to 477,000.

The four-week moving average for initial claims in the Oct. 11 week was 483,250, up from the previous week’s revised 482,500.

The level of continuing claims rose 40,000 to 3,711,000 in the Oct. 4 week, seasonally adjusted.

— Market News International

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.