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5/20, 2:31 PM (Source: TeleTrader)
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Initial jobless claims in US down 34,000 to 444,000

Initial jobless claims in the United States for the week ending May 14 were at 444,000, beating analyst's expectations, constituting a decrease of 34,000 when compared to the previous week's revised levels, the US Labor Department unveiled on Thursday.

The previous week's level was revised upwards by 5,000 from 473,000 to 478,000. Meanwhile, the 4-week moving average was down 30,500 compared to the previous week's revised average and stood at 504,750. This is the lowest level for both the initial jobless claims and the 4-week moving average since March 14, 2020, when they were 256,000 and 225,500 respectively.

The advance seasonally adjusted insured unemployment rate was 2.7 percent for the week ending May 8, an increase of 0.1 percentage point from the previous week's unrevised rate, while the advance number for the seasonally adjusted insured unemployment increased 111,000 to 3,751,000 compared to the previous week's revised level.

Breaking the News / OL