U.S. Weekly Jobless Claims Rise Less Than Expected

(RTTNews) - A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits rebounded by less than expected in the week ended May 2nd.

The Labor Department said initial jobless claims rose to 200,000, an increase of 10,000 from the previous week's revised level of 190,000.

Economists had expected jobless claims to climb to 205,000 from the 189,000 originally reported for the previous week.

Meanwhile, the report said the less volatile four-week moving average slipped to 203,250, a decrease of 4,500 from the previous week's revised average of 207,750.