Little-Changed U.S. Jobless Claims Signal Solid Labor MarketBy
U.S. jobless-benefit claims are hovering near levels that continue to reflect a strong labor market, with figures little changed last week, Labor Department data showed Thursday.
Highlights of Jobless Claims (Week Ended May 20)
Even with the slight uptick in jobless claims, the average over the past month is at its lowest level since 1973. Employers remain optimistic and are choosing to retain rather than fire staff, despite lackluster economic growth in the first three months of the year. That indicates the labor market remains solid and will contribute to a U.S. economy that’s widely expected to accelerate in the second quarter.
- Previous week’s initial claims revised to 233,000 from 232,000
- Unemployment rate among people eligible for benefits unchanged at 1.4 percent
- Louisiana and North Dakota had estimated claims last week