U.S. Jobless Claims +21K to 218K in May 14 Week; Survey 200K
19 May 2022 - 11:15PM
Dow Jones News
By Bryan Mena
New applications for unemployment benefits rose for the third
week in a row, amid separate signs that the U.S. labor market
remains unusually tight.
Initial jobless claims, a proxy for layoffs, increased by 21,000
to a seasonally adjusted 218,000 last week from the previous week's
revised level of 197,000, the Labor Department said Thursday.
Despite the recent rise, claims remain historically low with last
week's figure matching the 2019 average ahead of the Covid-19
pandemic.
The four-week average for claims, which smooths out volatility
in the weekly figures, rose to 199,500 from the previous week's
revised 191,250, the Labor Department said Thursday. The four-week
average reached 170,500 last month, its lowest point on records
dating back to 1967.
Continuing claims, a proxy for the total number of people
receiving payments from state unemployment programs, declined to
1.3 million for the week ended May 7 from the previous week's
level--the lowest level since December 1969. Continuing claims are
reported with a one-week lag.
Write to Bryan Mena at bryan.mena@wsj.com
(END) Dow Jones Newswires
May 19, 2022 09:00 ET (13:00 GMT)
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