Jobless Claims Allay Concern on U.S. Job Market: Economy

Claims for unemployment benefits declined last week to the lowest level in a month, easing concern that the U.S. labor market is faltering.

First-time claims dropped by 1,000 to 367,000 in the period ended May 5, the Labor Department said today in Washington. Other reports showed that a gauge of consumer confidence declined to a three-month low, and the trade deficit widened on rising demand for imports from oil to autos.