WASHINGTON (dpa-AFX) - A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits fell by more than expected in the week ended May 22nd.
The Labor Department said initial jobless claims slid to 406,000, a decrease of 38,000 from the previous week's unrevised level of 444,000. Economists had expected jobless claims to dip to 425,000.
Jobless claims decreased for the fourth consecutive week, once again falling to their lowest level since hitting 256,000 in the week ended March 14, 2020.
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