US / Unemployment Insurance / Claims drop back

SEASONALLY ADJUSTED DATA

In the week ending May 18, the advance figure for seasonally adjusted initial claims was 340,000, a decrease of 23,000 from the previous week’s revised figure of 363,000. The 4-week moving average was 339,500, a decrease of 500 from the previous week’s revised average of 340,000.

The advance seasonally adjusted insured unemployment rate was 2.3 percent for the week ending May 11, unchanged from the prior week’s revised rate. The advance number for seasonally adjusted insured unemployment during the week ending May 11 was 2,912,000, a decrease of 112,000 from the preceding week’s revised level of 3,024,000. The 4-week moving average was 2,995,250, a decrease of 23,750 from the preceding week’s revised average of 3,019,000.

Chosen excerpts by Job Market Monitor

via ETA Press Release: Unemployment Insurance Weekly Claims Report.

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Jobless Claims in U.S. Decreased More Than Forecast Last Week 

Fewer Americans than projected filed applications for unemployment benefits last week, a sign that the job market is sustaining recent gains…

Falling dismissals could lay the groundwork for a hiring pickup should the economy be able to overcome the federal budget cuts that are projected to curb the expansion. Federal Reserve Chairman Ben S. Bernanke yesterday said the job market is still weak, one reason why policy makers will continue buying bonds in a bid to keep interest rates low and spur growth.

“Some of the encouraging news on the economy has been initial claims, they haven’t made a definitive move higher,” said Ryan Sweet, senior economist at Moody’s Analytics in West Chester, Pennsylvania. “The hiring has been the missing piece.”

Chosen excerpts by Job Market Monitor

via Jobless Claims in U.S. Decreased More Than Forecast Last Week – Bloomberg.