Initial Jobless Claims Fall Last Week

Washington, DC, May 8, 2014 -- Initial applications for unemployment benefits fell last week to the lowest level in a month, according to the Labor Department.

Initial claims fell by 26,000 to a seasonally adjusted 319,000 in the week ended May 3.

The later Easter holiday and differences in when states hold spring break make it difficult for economists come up with accurate estimates. As a result, jobless claims often show volatility.

The average of initial claims over the past month rose by 4,500 to 324,750 but also remained near a post-recession low.