5/6, 2:31 PM (Source: TeleTrader)
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Initial jobless claims in US down 92,000 to 498,000

The number of initial jobless claims in the United States for the week ending April 30 declined 92,000 compared to the previous week's revised figure of 590,000 to 498,000, beating market expectations, the US Labor Department unveiled on Thursday.

The reported level is the lowest since March 14 of last year, where it stood at 256,000. The previous week's level was upped to 590,000, an increase of 37,000. Meanwhile, the 4-week moving average dropped 61,000 from the previous week's revised average to 560,000.

The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending April 24, remaining unchanged from the previous week's unrevised rate. Insurance unemployment during the same week increased by 37,000 from the week-over-week revised level to 3,690,000.

Breaking the News / OL