Number of Jobless Filers Dips Lower

May 27, 2004 ( - The number of Americans filing for initial jobless claims fell last week.

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.