Jobless claims fall less than expected (AP)

The Labor Department reported Thursday that applications for jobless benefits dropped to 450,000, down by 10,000 from the previous week. That was a smaller decline than had been expected and left the four-week average for claims at the highest level in six years.

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The big jump in the four-week average for claims was attributed to a number of factors, including a surge in layoffs and increased publicity surrounding an extension of benefits provided by a law Congress passed in June. The four-week average reached 440,500, up 19,500 from last week's revised average of 421,000. A year ago, that number stood at 315,500.

Full Story: Jobless claims fall less than expected (AP)

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