Initial Jobless Claims Down 14,000

Washington, DC, May 27, 2010--Initial jobless claims fell 14,000 to a seasonally adjusted 460,000 in the week ended May 22, the Labor Department reported Thursday.

Economists had expected a result of 458,000.

The four-week average of initial claims rose 2,250 to stand at 456,500. For the week ended May 15, continuing claims fell 49,000 to 4.61 million. The four-week average of these ongoing claims also declined, off 11,500 to 4.64 million, the lowest level since January 2009.

In the week ended May 8, about 5.34 million jobless workers, not seasonally adjusted, were receiving extended federal benefits, down about 2,700 from the prior week. Altogether, 9.87 million people were collecting some type of unemployment benefits in the week ended May 8, down about 78,000 from the prior week.