The number of unemployed workers filing claims came in lower than expected at 631,000, which shows a reduction of 14,000 from the previous weeks data. The pace of job losses appears to be slowing down as consumer spending rises in the United States.
However it is important to point out that while the number of people filing for unemployment benefits has been reduced from the previous week, the people staying on the benefits has increased by 133,000 to reach a 6.271 million.
The Labor Department will release the NFP report on May 8th, and after the claims reduction could come in lower than forecasted as well.
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