The number of Americans filing new applications for unemployment benefits unexpectedly declined in the week ended May 16, according to data released Thursday by the U.S. Department of Labor.
Initial jobless claims fell by 3,000 to 209,000 from the prior week’s revised level of 212,000.
Economists had forecast claims would edge slightly higher to 213,000, compared with the previously reported figure of 211,000 for the earlier week.
The Labor Department also said the four-week moving average, which helps smooth weekly volatility, decreased by 1,500 to 202,500 from the revised average of 204,000 recorded the previous week.