Mixed Progress for Jobless Claims

Another mixed-progress week on the employment front, as initial jobless claims fell, but by a smaller-than-expected 8,000 to 470,000 for the week ending Jan. 23, the U.S. Labor Department announced Thursday. A Bloomberg News economists' survey had expected jobless claims to total 440,000. The more-telling, four-week moving average unexpectedly rose 9,500 to 456,250.