Jobless claims drop in May 26 week; levels still off recent lows

WASHINGTON — Initial claims for U.S. state unemployment benefits fell by 13,000 to 221,000 in the May 26 week, slightly below the 224,000 level expected.

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However, several states were estimated this week due to the shorter reporting period after the Memorial Day holiday, so a revision next week is possible.

The four-week moving average rose by 2,500 to 222,250, and would be expected to rise by 2,500 again next week as the 211,000 level in the May 5 week rolls out of the calculation.

The level of continuing claims fell by 16,000 to 1.726 million in the May 19 week after rising by 30,000 in the previous week. The four-week average for continuing claims fell 8,500 to 1.744 million, another decades-low level.

Market News International is a real-time global news service for fixed-income and foreign exchange market professionals. See www.marketnews.com.
Economic indicators Jobless claims
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