Jobless claims fell to 403,000 last week

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New claims for unemployment benefits fell last week, but held above the key 400,000 level, according to government report on Thursday.

Initial claims for state unemployment benefits fell 13,000 to a seasonally adjusted 403,000, the Labor Department said, unwinding some of the prior week’s quarter-end jump.

Economists polled by Reuters had forecast claims slipping to 392,000. The prior week’s figure was revised up to 416,000 from the previously reported 412,000.

Full story: Jobless claims fall to 403,000 last week