Jobless Claims Unchanged for Week

Initial jobless claims were unchanged last week, holding at 370,000, the Labor Department said Thursday.

Economists had forecast claims to drop to 365,000, Bloomberg reported.

The four-week moving average, a less volatile measure, fell to 375,000, from 379,750.

Continuing claims for the previous week ended May 5 rose by 18,000 to 3.27 million a week earlier.