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U.S. Weekly Jobless Claims Edge Down More Than Expected

After reporting first-time claims for U.S. unemployment benefits at their highest level in almost four months in the previous week, the Labor Department released a report on Thursday showing jobless claims pulled back by more than expected in the week ended May 21st.

The report showed initial jobless claims dipped to 210,000, a decrease of 8,000 from the previous week's unrevised level of 218,000. Economists had expected jobless claims to edge down to 215,000.

Meanwhile, the Labor Department said the less volatile four-week moving average rose to 206,750, an increase of 7,250 from the previous week's unrevised average of 199,500.

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