(Bloomberg) — Fewer Americans than forecast filed applications for unemployment benefits last week, pushing the average over the past month to the lowest level in 15 years and underscoring labor-market strength.
Jobless claims decreased by 1,000 to 264,000 in the seven days ended May 9, a Labor Department report showed Thursday in Washington. The median forecast of 53 economists surveyed by Bloomberg projected 273,000. The four-week average, a less- volatile measure, was the lowest since April 2000.
Fewer workers are being let go, a sign that demand for staffing remains robust and that a slowdown in economic growth was due to transitory factors, like bad weather and port disputes on the West Coast. Persistently low firings and greater employment gains should help wages pick up, supporting consumer spending.
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