US initial jobless claims fall by 13,000

(Sharecast News) - Americans lined up for unemployment benefits at a slower pace in the week ended 3 May, according to the Labor Department. Initial jobless claims fell by 13,000 to 228,000, a sharp contrast when compared to the two-month high of 241,000 from the previous week, while continuing claims fell by 29,000 to 1.87m, easing from the over three-year high seen during April.

The four-week moving average, which aims to strip out week-to-week volatility, was 227,000, an increase of 1,000 from the previous week's unrevised average of 226,000.

Elsewhere, the advance seasonally adjusted insured unemployment rate was 1.2% for the week ending 26 April, a decrease of 0.1 percentage point from the previous week's unrevised rate.



Reporting by Iain Gilbert at Sharecast.com