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American Jobless Claims Fall To Pandemic-Low For Fifth Straight Week

May 13, 2021 by Forex Winner Leave a Comment

American Jobless Claims Fall To Pandemic-Low For Fifth Straight Week

Unemployment insurance claims hit a pandemic-low for the fifth straight week for the seven days ending in May 8, the Labor Department reported.

Seasonally adjusted initial claims
  • Seasonally adjusted initial claims fell 34,000 to 473,000 in the week ending May 8 to mark the lowest since March 14, 2020’s 256,000.
  • The previous week’s jobless claims was revised 9,000 higher to 507,000 from 498,000 earlier reported.
  • The four-week average fell 28,250 to 534,000, the lowest since March 14, 2020 when it was 225,500.
  • The advance seasonally adjusted insured unemployment rate was 2.6% for the week ending May 1 bringing the total insured unemployment to 3.655 million.
  • Biggest jumps in unemployment claims for the week ending May 1 were in Kentucky, New Jersey, Delaware, Vermont, and Puerto Rico.
  • The largest declines for the same week were seen in Virginia, New York, Florida, California, and Oklahoma.

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