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6/4, 2:31 PM (Source: TeleTrader)
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US initial jobless claims down by 246K to 1.88M

The number of initial jobless claims in the United States for the week ending May 30 decreased by 246,000 compared to the previous week's revised figure to land at 1.88 million, missing estimates, the US Department of Labor unveiled on Thursday. The total number of claims surpassed 42 million over the past 11 weeks.

The advance seasonally adjusted insured unemployment rate stood at 14.8% for the week ending May 23, marking an increase of 0.5% compared to the previous week's revised rate. Insured unemployment in the same week grew by 649,000 on a weekly basis to reach 21,487,000.

The four-week moving average landed at 2,284,000, dropping by 324,750 from the previous week's revised average.

Breaking the News / GA