Jobless Claims May 2018
Initial jobless claims came in at 211,000 in the April 28 week, only 2,000 higher from the prior week’s 209,000 which remains a 49-year low. The latest 4-week average, down a very sizable 7,750 to 221,500, is a 45-year low. Continuing claims fell 77,000 in lagging data for the April 21 week to 1.756 million which, for this reading, is also a 45-year low. And the unemployment rate for insured employees is down another notch, 1 tenth lower to only 1.2 percent.
Trends for this series are once again moving lower, consistent with strong demand for labor in results that will firm expectations for strength in tomorrow’s employment report for April.