Jobless Claims Fall to 370,000
There was little change in the number of Americans filing applications for unemployment benefits last week, suggesting the labor market is on a slow mend.
In the week ending May 19, initial jobless claims fell by 2,000 to a seasonally adjusted 370,000, the Labor Department reported Thursday.
The four-week moving average for new claims, considered a better measure of labor market trends, fell by 5,500 to 370,000, the lowest level since early April. The lower level indicates hiring could pick up in May from Aprils slower pace.
The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending May 12, unchanged from the prior week’s unrevised rate.
The unemployment rate remains at 8.1 percent.
In a separate report, new orders for manufactured durable goods in April increased $0.3 billion or 0.2 percent to $215.5 billion, the U.S. Census Bureau announced today. The increase, up two of the last three months, was followed by a 3.7 percent March decrease.