Initial Jobless Claims Drop By 6,000

June 2, 2011 8:30 AM, EDT

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Initial jobless claims fell 6,000 to 422,000 last week, the Labor Department reported Thursday.

Economists had forecast the rate to drop to 417,000, Bloomberg reported.

The four-week moving average, a less volatile measure, fell to 425,500 from 439,500 last week.

Continuing jobless claims for the previous week ended May 21 fell 1,000 to 3.71 million, Labor said.

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