Jobless claims fall 41,000 to 410,000

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Jobless claims fall 41,000 to 410,000
from MarketWatch.com - MarketPulse
WASHINGTON (MarketWatch) - First-time claims for state unemployment benefits fell sharply in the latest week but remained elevated due to Hurricane Sandy, the Labor Department reported Wednesday. The number of initial claims in the week ending Nov. 17 fell 41,000 to 410,000. The consensus forecast of Wall Street economists was for claims to fall 18,000 to 418,000. Claims in the previous week were revised to an increase of 90,000 to 451,000 compared with the initial estimate that they rose 78,000 to 439,000. The four-week average rose 9,500 to 396,250. Economists expect claims will continue to pour in for several more weeks. When Hurricane Katrina struck the Gulf Coast in the fall of 2005, claims remained elevated for more than a month.