Weekly Jobless Claims Drop, Snap 3-Week Upward Trend

By Lucia Mutikani

WASHINGTON -- The number of Americans filing new claims for unemployment benefits fell more than expected last week, indicating the labor market was strengthening despite a run-up in applications in prior weeks.

Initial claims for state unemployment benefits declined 26,000 to a seasonally adjusted 319,000 for the week ended May 3, the Labor Department said Thursday. The decline snapped three straight weeks of increases.