NEW YORK (TheStreet) — Fewer new filers applied for state unemployment insurance last week, according to a government report released Thursday, ahead of Friday's much anticipated monthly jobs report.
Initial jobless claims fell modestly by 7,000 to a seasonally adjusted 444,000 for the week ending May 1, the Labor Department said. The drop landed around expectations, as consensus forecasts provided by Briefing.com called for a fall to 440,000 from the prior week's pre-revised 448,000 total.
The moving average for new filers over the past four weeks also fell by 4,750 to 458,500, while the number of filers continuing on jobless benefit roles also declined to 4.594 million from 4.653 million.
The week is a big one for labor market data. On Wednesday, Automatic Data Processing
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