WASHINGTON - Initial jobless claims increased 20,000 to 457,000 for the week ended Oct. 30, the first increase in three weeks, the Labor Department reported.
Continuing claims for the week ended Oct. 23 dropped to 4.34 million, the third decline in four weeks and the lowest level since November 2008.
Economists polled by Thomson Reuters expected 442,000 initial claims and 4.380 million continuing claims, according to the median estimate.
Initial claims for the week ended Oct. 23 were revised slightly higher to 437,000 from the 434,000 reported last week. The revised figure is still the second-lowest weekly number of initial claims for the year, following a 427,000 level in the week ended July 10.
Initial claims reached a high for the year of 504,000 in the week ended August 14.
Continuing claims for the week of Oct. 16 were revised to 4.382 million from 4.356 million.
The four-week moving average of initial claims increased to 456,000 from 454,000 last week. The four-week average for continuing claims decreased to 4.410 million, the fifth straight weekly decline.
