For the week ended May 22, the number of first-time filers for state unemployment benefits fell 3,000 to a revised 347,000 from the previous week (See Jobless Claims Tick Up; Analysts Not Worried ), according to data released by the U.S. Department of Labor (DoL). However, analysts polled by Reuters had predicted an even larger decline to a level of 335,000.
While the number of first time filers dropped last week, the four week moving average – a more reliable indicator since it irons out short term flucuations – advanced by 1,500. Last week the moving average touched its lowest level since September 2000.
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