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US new jobless claims fall

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Date: Thursday 08 May 2008

LONDON (ShareCast) - Fewer people than expected signed up for unemployment insurance in the US but the number of people still in receipt of the benefit exceeded predictions, latest weekly figures from the Labor Department showed today.

The number of people filing new claims in the week to May 3 fell to 365,000, from 383,000 the previous week and below expectations of 370,000.

However, 3.02m people continued receiving unemployment in the week to April, a drop of 10,000 from the previous week but higher than economists’ expectations of 3m.