US jobless claims fall despite elevated uncertainty

The number of Americans applying for unemployment benefits declined last week despite heightened uncertainty over the country’s trade policy, indicating no increase in layoffs.

Jobless claim applications fell by 13,000 to 228,000 for the week ending May 3, the Labor Department said Thursday. That’s in line with the forecast of less than 230,000 new applications, from the previous week's unrevised average of 241,000.

The Labor Department reported that the four-week average of claims, which evens out some of the week-to-week gyrations, inched up by 1,000 to 227,000.