Jobless Claims Fall Unexpectedly Last Week

New claims for U.S. jobless aid unexpectedly fell by 5,000 last week.

First-time claims for state unemployment insurance benefits fell to 299,000 in the week ended Saturday, the lowest level since mid-February, from an upwardly revised 304,000 the previous week, the Labor Department said.

The four-week moving average of new claims, which smooths weekly volatility to provide a better picture of underlying labor market trends, also fell last week, dropping 2,750 to 308,500.