U.S. Initial Jobless Claims Drop for Third Straight Week: Chartby and
Filings for U.S. unemployment benefits declined for a third consecutive week, signaling sustained firming in the labor market. The median forecast of economists surveyed by Bloomberg called for applications to edge up to 270,000. The monthly jobs report on Friday is expected to show further labor-market improvement, which Federal Reserve officials will consider as they gauge whether to raise the benchmark interest rate at their June 14-15 meeting.