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Jobless claims fall by 14,000

May 27, 2010

U.S. initial claims for unemployment insurance for the week ended May 22 fell by 14,000, or 3.0%, to 460,000 from the previous week's revised number, the U.S. Department of Labor reported today. Analysts had expected the number to fall to 455,000, The Associated Press reported.

The number of initial claims for employment insurance from the previous week was revised up to 474,000 from the previously reported number of 471,000.

The four-week moving average of claims for the week ended May 22 rose by 2,250, or 0.5%, to 456,500 from the previous week's revised average of 454,250.

Weekly initial unemployment claims had reached more than 650,000 in 2009. However, the number for the week ended May 22 remains high, and is above the 454,000 reported for the last week in 2009.