Jobless claims fell more than expected

Last week, new claims for unemployment benefits fell by more than expected while the number of people claiming benefits for more than a week has hit record highs.  The previous week’s number was revised from 637,000 to 643,000 but the 4-week average is hovering around 628,500 – 3,500 lower than from previous month. WSJ gives more on the numbers:

Initial claims for jobless benefits fell 12,000 to a seasonally adjusted 631,000 in the week ended May 16, the Labor Department said in a weekly report Thursday. Economists surveyed by Dow Jones Newswires had expected claims would fall by 7,000 after a surprisingly large spike in the previous week.

From among the states, California surprisingly reported the lowest new claims due to slower lay offs.

For more numbers, click HERE.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s