- U.S. weekly jobless claims total 444,000
Market news
U.S. weekly jobless claims total 444,000
The
data from the Labor Department revealed on Thursday the number of applications
for unemployment fell more than expected last week, hitting a fresh
pandemic-era low.
According
to the report, the initial claims for unemployment benefits decreased by 34,000
to 444,000 for the week ended May 15. This was the lowest reading since the
week ended March 15, 2020.
Economists
had expected 450,000 new claims last week.
Claims
for the prior week were revised upwardly to 478,000 from the initial estimate
of 473,000.
Meanwhile,
the four-week moving average of jobless claims dropped to 504,750 from an
upwardly revised 535,250 in the previous week.
Continuing
claims rose to 3,751,000 from a downwardly revised 3,640,000 in the previous
week.
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