Initial Jobless Claims Edge Down

Washington, DC, May 24, 2012 -- Initial claims for unemployment benefits last week were little changed, according to the Labor Department.

Jobless claims declined by 2,000 to a seasonally adjusted 370,000 in the week ended May 19.

Economists had projected claims would climb to 373,000.

Meanwhile, the average of new claims over the past four weeks fell by 5,500 to 370,000, the lowest level in six weeks.

Also Thursday, the Labor Department said continuing claims decreased by 29,000 to a seasonally adjusted 3.26 million in the week ended May 12.