Weekly jobless claims fall 10,000 to 222,000
Continuing claims increase 13,000 to 1.794 million
Singlefamily housing starts slip 0.4 in April
Import prices jump 0.9; March data revised higher
Manufacturing production decreases 0.3

WASHINGTON, May 16 Reuters The number of Americans filing new claims for jobless benefits fell last week, unwinding nearly half of the jump at the start of the month, consistent with a gradually cooling labor market.

Other data on Thursday suggested the economy lost further momentum early in the second quarter as the delayed effects of the Federal Reserve39;s hefty interest rate hikes start to have a bigger impact. Singlefamily homebuilding fell for the second straight month in April and permits for future construction hit an eightmonth low. Output at factories unexpectedly fell.

The economy is losing momentum in the face of restrictive monetary policy, said Sal Guatieri, a senior economist at BMO Capital Markets.

Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 222,000 for the week ended May 11, the Labor Department said. Economists polled by Reuters had forecast 220,000 claims in the latest week. Claims raced to an eightmonth high in the prior week.

Unadjusted claims decreased 13,325 to 196,725. Claims in New York tumbled 9,442, almost reversing a prior surge which the state attributed to layoffs in transportation and warehousing, accommodation and food services as well as educational services…