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U.S. Weekly Jobless Claims Fall 1,000 to 367,000

Financial News Network
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May 11, 2012 AT 11:22 PM
Some economic news this morning: The Labor Department reported U.S. weekly jobless claims dropped by 1,000 last week to 367,000.Claims from two weeks ago were revised up to 368,000 from 365,000 on seasonally adjusted basis in the week ended May 5. The average number of new claims over four weeks though dropped by 5,250 to 379,000.The Labor Department also reported continuing claims decreased by 61,000 to a seasonally adjusted 3.23 million in the week ended April 28.This could be seen as good news but most likely the drop will be revised later and won't show much of a change. Investors will likely not be affected by this news in today's trading.