Initial jobless claims in the United States for the week ending May 14 increased by 21,000 from the previous week to 218,000, according to data from the Department of Labor on Thursday. The figure exceeded expectations of around 200,000. The previous report was revised down by 6,000 to 197,000. The 4-week moving average was 199,500, an increase of 8,250 from the previous week's revised average.
The insured unemployment rate for the week ending May 7 was 0.9% or 0.1 percentage points lower than the previous week, with the unemployment number at 1,317,000, the lowest since December 27, 1969. The 4-week moving average was 1,362,250, down by 22,500 from the previous week's revised average and the lowest level since e January 24, 1970.
