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Washington - US jobless-benefit claims remain low despite an increase last week, with the labor market otherwise exhibiting signs of continued tightening, Labour Department data showed on Thursday.
Highlights of Jobless Claims (Week Ended May 27) Initial filings increased by 13k to 248k (est. 238k) Continuing claims decreased by 9k to 1.915m in week ended May 20 (data reported with one-week lag). Four-week average of initial claims, a less-volatile measure than the weekly figure, rose to 238k from 235.5k in the prior week.
Key takeaways
Despite the increase in the headline figure, which was the largest in a month, the number of Americans filing for benefit claims continues to hover near a 43-year-low. Last week’s data had an unusually large portion come from estimates, as eight states including California and Texas - the two most populous - had approximated figures ahead of the Memorial Day holiday.
The labour market probably registered another solid performance last month, with a projected 180 000 additions to payrolls and the unemployment rate holding at a decade-low of 4.4%. The Labour Department releases those monthly figures for May on Friday.
Other details
Previous week’s initial claims revised to 235 000 from 234 000 Unemployment rate among people eligible for benefits remained unchanged at 1.4% The eight states with estimated figures also included Hawaii, Kansas, Kentucky, Louisiana, North Dakota and Virginia.
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