U.S. jobless claims stick near 49-year low of 211,000

WASHINGTON (MarketWatch) - The number of people who applied for U.S. unemployment benefits in early May stood at 211,000 for the second straight week, keeping initial jobless claims near a 49-year low. New claims were flat at 211,000 in the seven days ended May 5, the government said Thursday. Economists polled by the MarketWatch had expected claims to total 215,000. The average of new claims over the past month, meanwhile, fell by 5,500 to 216,000 to touch the lowest level since December 1969. The monthly average smooths out fluctuations in the more volatile weekly report and is seen as a more accurate predictor of labor-market trends. The number of people already collecting unemployment benefits, known as continuing claims, rose by 30,000 to 1.79 million.