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U.S. jobless claims fall
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May 10, 2001: 11:10 a.m. ET
Claims fell to 384,000 in latest week; retreat from five-year highs
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NEW YORK (CNNfn) - Fewer Americans lined up at the unemployment office last week as new claims for jobless benefits fell unexpectedly, according to a government report Thursday.
New claims for state unemployment benefits fell to 384,000 last week from a revised 425,000 the prior week, the Labor Department reported.
Last week's reading was the lowest in about a month and came after claims had climbed to the highest level in five years in prior weeks.
Analysts surveyed by Briefing.com had forecast new claims of 416,000 for last week.
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The four-week moving average of new claims, considered a better gauge of jobless trends, fell to 402,500 from the previous week's revised 405,500.
Economists watch the four-week moving average more closely because it smoothes fluctuations in the weekly data.
But continued claims -- those workers who have already claimed at least a week of benefits – edged higher to about 2.73 million in the week ended April 28, the latest data available, pointing to ongoing weakness in the job market. It was the highest level since June 18, 1994, when continued claims reached 2.733 million, a department official told Reuters.
-- from staff and wire reports 
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