WASHINGTON (AFP) – New claims for jobless insurance benefits in the United States fell in the past week but remain at a relatively high level, according to government data published Thursday.
Claims dipped by 14,000 to 460,000 in the week ending May 22 from the previous week's revised figure of 474,000, the Labor Department said.
Most analysts had expected claims to fall to 455,000.
"Though still elevated from the trend of recent weeks past, this is a reassuring sign that the past week's increase was likely not the beginning of a new trend," said Andrew Gledhill, an economist with Moody's Economy.com.
Last week, the Labor Department reported that claims had risen for the first time in five weeks during the week to May 15, fueling concerns that a key cog of the US recovery is faltering.
Unemployment at nearly 10 percent is posing a major threat to recovery from the most severe recession in decades cash till payday advance.
The department also said that the four-week moving average for the jobless insurance claims, a less volatile indicator than the week-to-week figures, rose to 456,500 from the previous week's revised average of 454,250.
The latest data showed a drop in the total number of Americans receiving unemployment benefits.
During the week to March 15, that figure hit 4.607 million, a decrease of 49,000 from the preceding week's revised level of 4.656 million.
The United States has lost more than eight million jobs since the economy entered recession in December 2007.
