U.S jobless claims for the week ending May 15 was 444,000, down 34,000 from the previous week, according to the Department of Labor press release. The claims were the lowest since March 14 last year and came better than expected 452,000.
Previous week’s jobless claims were revised up by 5,000 to 478,000.
The 4-week moving average jobless claims were 504,750, down by 30,500.
Continuing claims was 3.751 million, up 111,000 from the previous week.
Previous week’s continuing claims were revised down by 15,000 to 3.64 million.
Unadjusted advance initial claims under state programs declined by 7.6% to 454,634.
The decline in jobless claims reflect a reduction in the number of Americans getting pandemic benefits and improving job conditions as the economy reopens.
U.S stocks are currently gaining as the dollar loses. SPY is up 0.14% on premarket, QQQ is up 0.42% on premarket, EURUSD is up 0.24%
