US jobless claims fall below expectations

In the week ending May 20, US jobless claims came in at 229, below expectations.

According to seasonally adjusted data announced by the US Department of Labor, the number of claims, previously announced at 242,000 for the week of May 13, has been revised to 225,000.

Economists polled by Reuters had forecast jobless claims to number 245.

The four-week average of US jobless claims, which is considered a better indicator of US labor market trends, held steady at 231,750.

The total number of people who benefit from unemployment benefits in the US also fell to 1,794 million in the week of May 13. (REUTERS)