Jobless claims dropped by 1,000 to 367,000 in the period ended May 5, in line with the median forecast in a Bloomberg News survey and the lowest since the end of March, the Labor Department said today in Washington. The number of people on unemployment benefit rolls was the smallest since July 2008.
The Labor Department said the four-week moving average of claims, a less-volatile measure than the weekly figures, decreased to 379,000 last week from 384,250 the previous period.
The number of people continuing to receive jobless benefits dropped to 3.23 million in the week ended April 28 from 3.29 million. The continuing claims figure does not include the number of Americans receiving extended benefits under federal programs.