US Weekly Claims Unexpectedly Fall

By Unknown

Rabu, 18 Mei 2016

US Weekly Claims Unexpectedly Fall

The number of Americans asking for unemployment benefits fell unexpectedly last week, pointing to a tightening labor market.

initial claims for state unemployment benefits slipped 1,000 to a seasonally adjusted 267,000 for the week ended May 28, the Labor Department said Thursday. Applications for the previous week were unrevised.

initial applications Economists polled by Reuters had forecast an increase to 270,000 in the last week. Claims have now been below 300,000, a level associated with a strong job market for 65 consecutive weeks, the longest streak since 1973.

The four-week moving average of claims, considered a better measure of labor market trends as it smooths volatility week to week, dropped to 276,750 last 1,750 weeks.

A Labor Department analyst said there were no special factors influencing the data last week claims. However, Tennessee applications, Virginia, Wyoming, Puerto Rico and Hawaii were estimated because of the celebration of Memorial Day.

The report last week claims has no impact on the employment report in May, to be published on Friday, as it falls outside the survey period .

unemployment benefits claims increased in May compared to April, with economists blaming various school spring breaks calendar and a one-month strike by Verizon ( VZ. N) workers.

The strike, which ended since, should reduce May non-farm employment by 35,100 jobs, according to a government report last week.

payroll Economists polled by Reuters expect increasing by 162,000 in May after rising 0,000 in April. The unemployment rate is expected to slip to 4.9 percent from 5.0 percent in April.

Thursday's claims report showed the number of people still receiving benefits after an initial week of aid rose 12,000 to 2,170,000 in the week ended May 21 The four-week average of continuing claims supposedly also increased by 12,000 to 2,0,000.

Reuters

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