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First-time claims for U.S. unemployment benefits saw a modest decline in the week ended May 3rd, according to a report released by the Labor Department on Thursday.
The report said initial jobless claims dipped to 228,000, a decrease of 13,000 from the previous week's unrevised level of 241,000. Economists had expected jobless claims to slip to 230,000.
Meanwhile, the Labor Department said the less volatile four-week moving average inched up to 227,000, an increase of 1,000 from the previous week's unrevised average of 226,000.
