Market Updates
Weekly Jobless Claims Rise for Third Month In a Row
Brian Turner
19 May, 2022
New York City
U.S. weekly jobless claims in the week ending on May 18 came in at 281,000, an increase of 21,000 from the previous week, the Labor Department said on Thursday.
The jobless claims rose for the third week in a row.
The seasonally adjusted claims were revised down 6,000 to 197,000 and 4-week moving average increased 8,250 to 199,500.
The so-called continuing claims decreased 25,000 to 1.317 million, the lowest level since December 1969.
The advance seasonally adjusted insured unemployment rate was 0.9 percent for the week ending May 7, a decrease of 0.1 percentage point from the previous week's unrevised rate.
Initial jobless claims have been on the decline after reaching a peak of 6.137 million in April 2020 but have started rising again after reaching a low of 166,000 in March.
Labor market has significantly tightened in two years to March and at the end of the month a record 11.5 million job openings were advertised according to another survey conducted by the Labor Department.
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