U.S. initial claims for unemployment insurance dipped for the week after revised figures showed a slight increase in previous data.
According to the Department of Labor, new unemployment claims for the week ending May 19 came in at a seasonally adjusted level of 370,000, a slight decline from the previous week's revised level of 372,000.
The previous week had initially showed new unemployment claims holding level at 370,000 from the week before, so the revisions mark a slight increase.
Nevertheless the report for May 19 still comes in below the expectations of most economists, who predicted a slight increase to 371,000.
The four-week rolling average of new unemployment claims, a figure that eases some of the week-to-week volatility in the reports, also showed a slight decrease, dropping 5,500 to 370,000 from the previous week's revised average of 375,500.
by RTT Staff Writer
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