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Jobless claims fall

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Jobless claims fall

Weekly figure beats expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended May 3 were 319,000, a decrease of 26,000 from the previous week's revised figure of 345,000.

Analysts had expected a drop in new claims, to 325,000.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 4,500 to 324,750.

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The figures somewhat offset last week’s surprisingly large increase in claims, and reinforce the perception of a strengthening jobs environment.

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