Official figures show that new claims for US unemployment benefits fell last week, but the drop was not enough to offset a sharp rise the previous week.
Initial jobless claims for the week ending October 16 totalled 452,000, the Labor Department said. That was better than the 455,000 claims expected by economists.
Claims fell 23,000 from the previous week's upwardly revised figure of 475,000, the department said.
The four-week moving average, which helps smooth out weekly volatility, was 458,000, down 4,250 from the previous week's revised average of 462,250.
Analysts said the weekly claims trend indicated that high unemployment, stuck for months near 10%, would continue for a considerable time.
Separately, the Conference Board's leading economic index rose 0.3% last month after a 0.1% gain in August. The rise was in line with market expectations.
A third report showed that the Philadelphia Federal Reserve Bank's business activity index rose to 1% in October from minus 0.7% in September. That was less than economists' expectations for a gain to 2%. A reading above zero indicates expansion in the region's manufacturing.
