U.S jobless claims for the week ending May 8 was 473,000, down 34,000 from the previous week, according to the Department of Labor press release. The jobless claims were the lowest since March 14, 2020 in another sign of labor market recoveries.
Previous week’s jobless claims were revised up by 9,000 to 507,000.
The 4-week average jobless claims fell by 28,250 to 534,000.
Continuing claims were 3.655 million for the week ending May 1, down 45,000 from the previous week.
Previous week’s continuing claims were revised by 10,000 to 3.7 million.
Unadjusted actual initial claims under state programs fell 5.1% to 487,436 in the week ending May 8.
U.S stocks are currently gaining as the dollar loses. SPY is up 0.39% on premarket, QQQ is up 0.93% on premarket, EURUSD is up 0.12%.
