Market news
13.05.2021, 12:41

U.S. weekly jobless claims total 473,000

The data from the Labor Department revealed on Thursday the number of applications for unemployment decreased more than forecast last week, hitting a fresh pandemic-era low.

According to the report, the initial claims for unemployment benefits declined by 34,000 to 473,000 for the week ended May 8. This was the lowest reading since March 2020.

Economists had expected 490,000 new claims last week.

Claims for the prior week were revised upwardly to 507,000 from the initial estimate of 498,000.

Meanwhile, the four-week moving average of jobless claims fell to 534,000 from a revised 562,250 in the previous week.

Continuing claims rose to 3,655,000 from a revised 3,700,000 in the previous week.

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