The Labor Department said initial jobless claims fell by 1,000 to a seasonally adjusted 211,000 for the week ending May 18, beating the consensus forecast. The 4-week moving average declined by 4,750 from the unrevised prior week to 220,250.
The forecasters expected claims to rise by 3,000 to 215,000.
|Prior||Consensus Forecast||Forecast Range||Actual|
|Initial Jobless Claims – Level||212 K||215 K||210 K to 218 K||211 K|
|4-Week Average – Level||225.0 K||220.25 K|
No state was triggered “on” the Extended Benefits program during the week ending May 4.
In lagging data, advance seasonally adjusted insured unemployment rate remained unchanged at a very low 1.2% for the week ending May 11.
The advance unadjusted number for persons claiming UI benefits in state programs decreased by 1,898, or or -0.1% to a total 1,537,165. A year earlier the rate was 1.1% and the volume was 1,604,119.
The highest insured unemployment rates in the week ending May 4 were in Alaska (2.4), New Jersey (2.0), California (1.9), Connecticut (1.8), Puerto Rico (1.6), Illinois (1.5), Massachusetts (1.5), Pennsylvania (1.5), Rhode Island (1.5), and Washington (1.4).
The largest increases in initial claims for the week ending May 11 were in California (+1,226), Michigan (+379), Oregon (+295), Tennessee (+267), and Mississippi (+257), while the largest decreases were in New York (-15,394), Pennsylvania (-1,040), Illinois (-484), Kansas (-479), and Iowa (-469).