U.S. weekly initial jobless claims fall 9,000 to 365,000 (by Robert Schroeder)

WASHINGTON (MarketWatch) -- First-time claims for state unemployment dropped by 9,000 to 365,000 on a seasonally adjusted basis in the week ending May 17, the Labor Department reported Thursday. Initial claims were the lowest since the week ended April 5. The four-week average of initial claims rose by 5,000 to 372,250. The number of continuing jobless claims was unchanged for the week ending May 10, at 3.07 million. The four-week average of those claims rose by 31,750, to 3.05 million.