US Unemployment Claims Fall for Second Straight Week

Source US Labor Department

Jobless claims in the United States continued to drop in the past week, marking the lowest level in the last three weeks. DXY is down 0.57%, while Gold is up 1.11%.

• Seasonally adjusted initial claims for the week ending May 21 stood at 200,000, 11,000 lower than the previous week’s upward revised 211,000.
• The four-week moving average was recorded at 206,500 or 500 lower than the previous week’s upward revised average of 207,000.
• The insured unemployment rate for the week ending May 21 was 0.9% or 0.1 percentage points lower than the previous week’s unrevised rate.
• Insured unemployment fell by 24,000 to 1.309 from the previous week’s downward revised 1.343 million.
• This is the lowest reading since December 27, 1969, when it stood at 1.304 million.
• The biggest jumps were in Missouri, Georgia, Mississippi, Texas, and North Carolina.
• The steepest declines were seen in California, Illinois, Kentucky, New York, and Michigan.