US Initial Jobless Claims Rise More than Expected


The number of Americans filing for unemployment benefits increased to 222 thousand in the week ending May 12th, from the previous week's unrevised level of 211 thousand and exceeding market expectations of 215 thousand. It was the highest reading in four weeks.

The 4-week moving average was 213,250, a decrease of 2,750 from the previous week's unrevised average of 216,000. This is the lowest level for this average since December 13, 1969 when it was 210,750. 

According to unadjusted data, the biggest increases in initial claims were recorded in Missouri (+3,682), Kentucky (+2,989), Alabama (+904) and California (+890) while the main declines were seen in Pennsylvania (-1,381), Ohio (-1,214) and New York (-950). Claims taking procedures in Puerto Rico (-164) and in the Virgin Islands (-5) have still not returned to normal.

The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending May 5, a decrease of 0.1 percentage point from the previous week's unrevised rate. 

The advance number for seasonally adjusted insured unemployment during the week ending May 5 was 1,707,000, a decrease of 87,000 from the previous week's revised level. This is the lowest level for insured unemployment since December 1, 1973 when it was 1,692,000. The previous week's level was revised up 4,000 from 1,790,000 to 1,794,000. The 4-week moving average was 1,773,750, a decrease of 39,750 from the previous week's revised average. This is the lowest level for this average since December 22, 1973 when it was 1,756,000. The previous week's average was revised up by 1,000 from 1,812,500 to 1,813,500. 

 US Initial Jobless Claims Rise More than Expected


DOL | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
5/17/2018 12:54:21 PM