WASHINGTON – Initial jobless claims fell to 453,000 for the week ending May 29, the second straight decrease, as the four-week moving average increased for the fourth consecutive week, the Labor Department reported today.
Continuing claims rose to 4.666 million for the week ending May 22.
Economists expected 450,000 initial claims and 4.60 million continuing claims, according to the median estimate from Thomson Reuters.
Six states estimated initial claims data due to the Memorial Day holiday on Monday, including a partial estimate from California.
Initial claims for the week ending May 22 were revised higher to 463,000 from 460,000 reported last week. Continuing claims were revised to 4.635 million from 4.607 million.
The four-week moving average of initial claims, a less volatile figure, increased to 459,000, the fourth weekly increase. The four-week average hit a low for the year of 448,000 in March. The continuing claims four-week average increased for the first time in a month, rising to 4.654 million.
For the week ending May 22, five states reported a decline of more than 1,000 initial claims and two states said they had an increase of more than 1,000.
