The data from the Labor Department revealed on Thursday the number of applications
for unemployment rose less than forecast last week.
According to the report, the initial claims for unemployment benefits increased
by 4,000 to 229,000 for the week ended May 20.
Economists had expected 245,000 new claims last week.
the prior week were revised downwardly to 225,000 from the initial estimate of 242,000.
Meanwhile, the four-week moving average of jobless claims remained
unchanged at 231,750 in the previous week.
As for continuing claims, they slipped to 1,794,000
from an unrevised 1,799,000 in the previous week. That marked the lowest
print since the week ending March 4 (1,772,000).