US Jobless Claims Post Biggest Back-to-Back Drop Since September
- First-time claims declined to 215,000 in week ended May 18
- Benefit applications have remained subdued in recent months
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Initial applications for US unemployment benefits fell last week, remaining subdued as both demand for workers and layoffs ease.
First-time claims decreased by 8,000 to 215,000 in the week ended May 18 after a similar drop in the prior period, marking the biggest back-to-back decline since September, according to Labor Department data released Thursday. The median forecast in a Bloomberg survey of economists called for 220,000.