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26 May, 2022 13:59 26 May, 2022 14:02

Initial jobless claims fall to 210,000

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New York CitySharecast photo / Josh White

US initial jobless claims fell by a better-than-expected 8,000 in the week ended 21 May, dropping from an unrevised print of 218,000 to 210,000, according to the Labor Department.

On a non-seasonally adjusted basis, initial claims fell by 14,534 week-on-week to 183,927, with notable declines in California, Illinois, Kentucky, and New York.

The four-week moving average, which aims to strip out week-to-week volatility, came to 206,750, an increase of 7,250 from the previous week's unrevised average of 199,500, while continued claims for regular benefits rose 31,000 to 1.34m, maintaining their downtrend near the lowest level in over fifty years and remaining firmly below the 1.7m average in 2019.

The report also revealed that the advance seasonally adjusted insured unemployment rate was 1.0% for the week ending 14 May, an increase of 0.1 percentage point from the previous week's unrevised rate.

Reporting by Iain Gilbert at Sharecast.com


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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.

The value of investments can fall and you may get back less than you invested.