U.S. Weekly Jobless Claims Unexpectedly Edge Lower

(RTTNews) - The Labor Department released a report on Thursday showing first time-claims for U.S. unemployment benefits unexpectedly edged lower in the week ended May 16th.

The report said initial jobless claims dipped to 209,000, a decrease of 3,000 from the previous week's revised level of 212,000.

Economists had expected jobless claims to inch up to 213,000 from the 211,000 originally reported for the previous week.

The Labor Department said the less volatile four-week moving average also slipped to 202,500, a decrease of 1,500 from the previous week's revised average of 204,000.