Initial jobless claims fall, but continuing claims top 6 million

Some mixed news on the jobs front this morning to report. Initial jobless claims dropped sharply to 610,000 in the week of April 11 from an upwardly revised 663,000 in the prior week. That's the "good." The "bad?" Continuing claims surged to a whopping 6.022 million from 5.85 million in the prior week. That is a record high, and the first time we've topped 6 million claims in U.S. history.