U.S. initial jobless claims decline by 10K

Initial U.S. jobless claims incheddown to 453,000 last week,a decrease of 10,000 fromthe previous week.

However, the four-week average sat at 459,000, an increase of1,750 from the previous week, the U.S. Labour Department said Thursday.

Initial claims are a closely watched indicator because they are considered a gauge of layoffs and a sign of whether companies are willing to hire. The four-week moving averageis more closely watched than the sometimes volatile weekly figure because it smooths out fluctuations.

The jobs picture was not uniformacross the country. Michigan's figure decreased by 2,269 from the previous week. At the other end of the spectrum, Missouri's initial claims increased by 1,189, withlayoffs in theconstruction industry cited as the cause.

Decreasein total recipients

The total number of people receiving regular unemployment insurance benefits was 4,330,107, a decrease of 77,692from the preceding week. During the same week a year ago, the number was 6,033,293.

But the regular claims figure does not include people who continue to receive benefits under multiple special extensions Congress has passed this year.

Extended benefits were continuing last week in 37 states, as well as Puerto Rico and the District of Columbia. Some of the hardest-hit states have allowances for up to 99 weeks of ongoingunemployment benefits.