US Jobless Claims Rise To 5-Week High


The number of Americans filing for unemployment benefits increased by 13 thousand to 248 thousand in the week ended May 27th from the previous week's revised level of 235 thousand and way above market expectations of 239 thousand.

Claims have now been below 300,000 for 117 straight weeks, the longest such stretch since 1970.

The 4-week moving average was 238,000, an increase of 2,500 from the previous week's revised average. The previous week's average was revised up by 250 from 235,250 to 235,500.

The advance seasonally adjusted insured unemployment rate was 1.4 percent for the week ending May 20, unchanged from the previous week's unrevised rate. 

The continuing claims drawn by workers for more than a week (the advance number for seasonally adjusted insured unemployment) during the week ending May 20 was 1,915,000, a decrease of 9,000 from the previous week's revised level. The previous week's level was revised up 1,000 from 1,923,000 to 1,924,000. The 4-week moving average was 1,914,500, a decrease of 16,000 from the previous week's revised average. This is the lowest level for this average since January 12, 1974 when it was 1,881,000. The previous week's average was revised up by 250 from 1,930,250 to 1,930,500. 

US Jobless Claims Rise To 5-Week High


DOL | Joana Ferreira | joana.ferreira@tradingeconomics.com
6/1/2017 12:37:15 PM