U.S. Jobless claims drop unexpectedly to 5-year low

Initial jobless claims for unemployment benefits in the U.S. edged down surprisingly in the week ended on May 4 falling to the lowest level in five years, a report released by the Labor Department showed on Thursday. According to the report jobless claims fell to 323,000 from 327,000 to 323,000 recorded last week, while economists expected an increase to 335,000.