Initial claims for U.S. state unemployment fell sharply by 20,000 to 478,000 in the Oct. 4 week the Labor Department reported yesterday.
The claims level for Sept. 27 week was revised up to 498,000 from the previously reported 497,000.
Continuing claims for the Sept. 27 week rose 56,000 to 3.659 million, their highest level since the week ended June 28, 2003, at 3.737 million.
— Market News International