Initial jobless claims fall 28,000 to 452,000

Initial jobless claims fall 28,000 to 452,000
Story By Ruth Mantell

WASHINGTON (MarketWatch) -- First-time claims for state unemployment benefits fell a seasonally adjusted 28,000 to 452,000 in the week ended Dec. 19, hitting the lowest level since September 2008, the Labor Department reported Thursday. Economists polled by MarketWatch were looking for an initial claims level of 470,000. The four-week average of new claims fell 2,750 to 465,250, which also the lowest level since September 2008. In the week ended Dec. 12, the number of people who continued to collect benefits fell 127,000 to 5.08 million, the lowest level since February. The four-week average of continuing claims fell 90,000 to 5.23 million, the lowest level since March. The insured unemployment rate remained at 3.9%.