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5/28, 2:31 PM (Source: TeleTrader)
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US initial jobless claims down by 323K to 2.1M

The number of initial jobless claims in the United States for the week ending May 23 decreased by 323,000 compared to the previous week's revised figure to land at 2,123,000, the US Department of Labor unveiled on Thursday, bringing the total number of claims to over 40 million over the past 10 weeks.

The insured unemployment rate was 14.5% for the week ending May 16, an increase of 2.6% from the previous week's revised rate. Meanwhile, the seasonally adjusted insured unemployment rate during the same week was 21,052,000, a decrease of 3,860,000 from the previous week's revised level.

The four-week moving average was 22,722,250, up by 760,250 compared to the week prior.

Breaking the News / JC