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Unemployment Insurance Weekly Claims
In the week ending May 13, the advance figure for seasonally adjusted initial claims was 242,000, a decrease of 22,000 from the previous week's unrevised level of 264,000. The 4-week moving average was 244,250, a decrease of 1,000 from the previous week's unrevised average of 245,250. The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending May 6, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending May 6 was 1,799,000, a decrease of 8,000 from the previous week's revised level. The previous ... (full story)
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Jobless claims fall in sign layoffs are still rare
The number of new applications for unemployment benefits unexpectedly dropped by 22,000 to 242,000 last week, the Labor Department reported Thursday. Falling jobless claims are a sign the labor market is resilient despite the Federal Reserve’s historic effort to tighten monetary policy to slow economywide spending and drive down inflation. The slight drop comes amid some signs that the labor market might finally be beginning to cool. The weekly jobless claims number has been closely watched over the past year, given the Fed has been hiking aggressively. The Fed opted to raise rates once again this month, although ... (full story)
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