Unemployment claims drop, but by less than expected
First-time claims for unemployment benefits decreased by 44,000 in the week ended May 7 to 434,000, according to figures released today by the U.S. Department of Labor.
Economists had forecast 430,000 claims, according to a Bloomberg News survey. U.S. payrolls have expanded for seven straight months, a sign that the labor market is strengthening.
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