US: initial weekly jobless claims increase by 11K to 222K

Haresh Menghani FXStreet

In the week ending May 12, the advance figure for seasonally adjusted initial claims was 222,000, an increase of 11,000 from the previous week's unrevised level of 211,000.

Meanwhile, the 4-week moving average was 213,250, a decrease of 2,750 from the previous week's unrevised average of 216,000. "This is the lowest level for this average since December 13, 1969 when it was 210,750," the report from the US Department of Labor said on Thursday.

The total number of people claiming benefits in all programs in the US for the week ending April 28 reached 1,753,862, representing a decrease of 13,721 from the previous week. There were 1,891,492 persons claiming benefits in all programs in the comparable week in 2017.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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