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5/13, 2:31 PM (Source: TeleTrader)
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US initial jobless claims down by 34,000 to 473,000

The number of initial jobless claims in the United States for the week ending May 8 decreased by 34,000 compared to the previous week's revised figure to land at 473,000, the Labor Department reported on Thursday.

The 4-week moving average was 534,000, a decrease of 28,250 from the previous week's revised average and the lowest figure since March 14, 2020. The previous week's average was revised up by 2,250 to 562,250.

The advance seasonally adjusted insured unemployment rate was 2.6% for the week ending May 1, down by 0.1% compared to the previous seven-day period. Insured unemployment during the same week was 3,655,000, marking a fall of 45,000 from the previous week's revised level.

Breaking the News / BU