WASHINGTON — Initial jobless claims dropped 3,000 to 420,000 for the week ending Dec. 11, matching economist expectations for new filings for unemployment benefits, the Labor Department reported Thursday.

Continuing claims, a measure of the number of people already receiving jobless benefits, rose 22,000 to 4.135 million for the week ending Dec. 4, exceeding the 4.05 million median estimate in an earlier Thomson Reuters survey of economists.

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.