U.S. Weekly Jobless Claims Unexpectedly Edge Lower

(RTTNews) - First-time claims for U.S. unemployment benefits unexpectedly edged lower in the week ended November 9th, according to a report released by the Labor Department on Thursday.

The report said initial jobless claims slipped to 217,000, a decrease of 4,000 from the previous week's unrevised level of 221,000. Economists had expected jobless claims to inch up to 223,000.

The unexpected decline pulled jobless claims down to their lowest level since hitting 216,000 in the week ended May 18th.

The Labor Department said the less volatile four-week moving average also dipped to 221,000, a decrease of 6,250 from the previous week's unrevised average of 227,250.