US Initial Claims at 7-Week High


The number of Americans filing for unemployment benefits increased by 11 thousand to 234 thousand in the week ending May 19th, above market expectations of 220 thousand. It is the highest reading in seven weeks. The previous week level was revised slightly up by 1 thousand to 223 thousand.

The 4-week moving average was 219,750, an increase of 6,250 from the previous week's revised average. The previous week's average was revised up by 250 from 213,250 to 213,500.

According to unadjusted data, the biggest rises in claims were recorded in California (2,782), Pennsylvania (2,214), Kentucky (1,679), Michigan (1,550) and New Jersey (1,034). The biggest declines were seen in Missouri (-2,852) and Washington (-289). Claims taking procedures in Puerto Rico (-5) and in the Virgin Islands (-11) have still not returned to normal.

The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending May 12, unchanged from the previous week's unrevised rate.

Continuing claims increased by 29,000 to 1,741,000 during the week ending May 12. The previous week's level was revised up 5,000 from 1,707,000 to 1,712,000. The 4-week moving average was 1,751,750, a decrease of 23,250 from the previous week's revised average. This is the lowest level for this average since December 15, 1973 when it was 1,735,750. The previous week's average was revised up by 1,250 from 1,773,750 to 1,775,000. 

 US Initial Claims at 7-Week High


DOL | Joana Taborda | joana.taborda@tradingeconomics.com
5/24/2018 12:40:34 PM