The US Labor Department reported that the number of new jobless claimants fell last week to 460,000. Despite the decrease of about 14,000 from the previous week, this was still higher than expected and provides further evidence that improvements in the US employment market remain tentative at best.
Late last year, the official unemployment tally was 10.1 percent. It fell to 9.7 percent in the first quarter of 2010, but has since crept upwards to 9.9 percent as of April.
Source: Associated Press
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