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Jobless Claims in U.S. Unexpectedly Decline to Five-Year Low

Bloomberg (05/02/13) Alex Kowalski; Shobhana Chandra

The number of workers filing claims for unemployment insurance fell to the lowest level last week since January 2008, suggesting employers are retaining staff even though the economy is cooling. Applications for jobless benefits declined 18,000 to 324,000 in the week ended April 27, according to the U.S. Department of Labor. Economists had forecast 345,000 applications, according to a Bloomberg survey. Meanwhile, the previous week’s figures were revised upward to 342,000 from an initially reported 339,000.