Initial jobless claims dip
- Prior week 242K revised to 225K
- For the week ending May 20, initial claims were 229,000, an increase of 4,000 from the previous week's revised level of 225,000.
- The previous week's level was revised down by 17,000 from 242,000 to 225,000.
- The 4-week moving average of initial claims remained unchanged at 231,750 from the previous week's revised average.
- The previous week's average of initial claims was revised down by 12,500 from 244,250 to 231,750.
- The insured unemployment rate for the week ending May 13 was 1.2 percent, unchanged from the previous week.
- The number of continuing claims during the same week was 1,794,000, a decrease of 5,000 from the previous week's level of 1,799,000.
- The 4-week moving average of continuing claims decreased by 12,250 from the previous week's average, resulting in a new average of 1,800,250.
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NOTE: Massachusetts revised 3 months of jobless claims lower by an average of 14K per week due to reporting issues. That seems to be influencing the data.