First-time claims for jobless benefits fell last week to aone-month low, helping allay concern that the labor market maysuffer an extended setback.

Jobless claims dropped by 1,000 to 367,000 in the period endedMay 5, in line with the median forecast in a Bloomberg News surveyand the lowest since the end of March, the Labor Department saidtoday in Washington. The number of people on unemployment benefitrolls was the smallest since July 2008.

The data indicate the surge in claims in the first three weeksof April was probably tied to the timing of the Easter holidayrather than a deterioration in employment. Further declines indismissals would point to ongoing improvement in the job market,helping sustain household purchases after payrolls cooled lastmonth.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.