Weekly US unemployment claims drop

US firms continued to hold onto their workers during the latest week.

According to the Department of Labor, in seasonally adjusted terms initial unemployment claims fell by 10,000 over the week ending on 11 May.

Economists had anticipated a drop to 220,000.

The four-week moving average meanwhile rose by 2,500 to 217,750.

Secondary unemployment claims, which are those not being filed for the first time and referencing the week hat finished on 4 May, edged up by 13,000 to 1.794m.

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