Jobless claims drop - KWWL - Eastern Iowa Breaking News, Weather, Closings

Jobless claims drop

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WASHINGTON (KWWL) -- The number of people continuing to claim benefits continued to rise despite the number of new claims for jobless benefits falling.

The Labor Department says initial claims for unemployment insurance dropped to a seasonally adjusted 509,000, from an upwardly revised figure of 530,000 for the previous week.

According to a survey by Thomson Reuters, that's significantly below analysts' estimates of 537,000.

The number of people continuing to claim unemployment benefits reached 4.09 million, the highest level since December 1982.

Online Executive Producer Nate Leding

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