Mixed unemployment numbers, as initial claims fall, continuing claims rise

A mixed week on the employment front. Initial jobless claims fell 12,000 to 545,000 for the week ending September 12, but continuing claims rose 129,000 to 6.223 million, the U.S. Labor Department announced Thursday.

Economists surveyed by Bloomberg News had expected jobless claims to total 575,000 this week. The four-week moving average for initial jobless claims decreased 8,750 to 563,000. Economists view the four-week average as a better indicator of unemployment conditions, as it smooths-out anomalies for strikes, holidays, and other idiosyncratic events.