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- U.S. weekly jobless claims total 473,000
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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