The number of Americans filing new claims for unemployment insurance fell 20,000 last week, the government said today.
First-time claims for state jobless aid fell to 321,000 in the week ended May 14th from an upwardly revised 341,000 the previous week, the Labor Department said.
Wall Street economists had forecast new claims to fall 10,000 to 330,000 from the originally reported measure. A Labor Department analyst said there were no special factors behind the drop.
The closely watched four-week moving average, which irons out weekly volatility, climbed for the second straight week, rising 5,500 to 329,750.
The number of people remaining on benefit rolls after drawing a week of aid rose for the third consecutive week, advancing 5,000 to 2.60 million in the week ended May 7th, the latest week for which figures are available.