Weekly Initial Unemployment Claims decrease to 232,000
The DOL reported:
In the week ending May 13, the advance figure for seasonally adjusted initial claims was 232,000, a decrease of 4,000 from the previous week's unrevised level of 236,000. The 4-week moving average was 240,750, a decrease of 2,750 from the previous week's unrevised average of 243,500.The previous week was unrevised.
The following graph shows the 4-week moving average of weekly claims since 1971.
Click on graph for larger image.
The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims decreased to 240,750.
This was lower than the consensus forecast.
The low level of claims suggests relatively few layoffs.