U.S. Jobless Claims Fall Unexpectedly

Reuters is reporting that new claims for U.S. jobless aid unexpectedly fell 5,000 last week and longer term unemployment slid in late March to its lowest level in more than five years, according to a new government report.

First-time claims for state unemployment insurance benefits fell to 299,000 in the week ending April 1, the lowest level since mid-February, from an upwardly revised 304,000 the prior week.