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The Labor Department said the number of first-time jobless claims -- a guide to the strength of the job market and the pace of layoffs -- fell for the second straight week, falling to 410,000 for the week ended May 25 from a revised 422,000 the week before.
The number of new claims was in line with the expectations of private economists polled by Reuters who forecast a fall to 409,000. Labor had originally reported claims at 416,000 for the May 18 week.
However, in an indication that more unemployed people are staying jobless, the number of people who had already qualified for a week of benefits rose to 3.89 million in the week ended May 18, the latest week for which figures are available.
The rise in so-called continued claims -- the fifth straight increase -- was from 3.84 million the previous week and the highest since 3.95 million in the Jan. 15, 1983 week when President Reagan was in the midst of his first term
The number of new claims was in line with the expectations of private economists polled by Reuters who forecast a fall to 409,000. Labor had originally reported claims at 416,000 for the May 18 week.
However, in an indication that more unemployed people are staying jobless, the number of people who had already qualified for a week of benefits rose to 3.89 million in the week ended May 18, the latest week for which figures are available.
The rise in so-called continued claims -- the fifth straight increase -- was from 3.84 million the previous week and the highest since 3.95 million in the Jan. 15, 1983 week when President Reagan was in the midst of his first term