First-time claims for state unemployment benefits fell to their lowest level since early April, the Labor Department reported Thursday. The number of initial claims in the week ending April 25 fell 14,000 to 631,000. It's the lowest level since the week ended April 11. The consensus forecast of Wall Street economists was for claims to rise to 645,000. Claims in the previous week were revised to an increase of 32,000 to 645,000 compared with the initial estimate of a rise of 27,000 to 640,000. The four-week average of initial claims fell 10,750 to 637,250. Meanwhile, the total number of Americans receiving state jobless benefits set a record for the 13th straight week. Continuing claims rose 133,000 to 6.27 million. The four-week moving average of continuing claims rose 131,500 to 6.08 million.
