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Financial News: U.S. Weekly Jobless Claims Pull Back To 222,000

U.S. Weekly Jobless Claims Pull Back To 222,000

05/16/2024 - 08:35:00 (RTTNews)

(RTTNews) - A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits fell roughly in line with estimates in the week ended May 11th.

The Labor Department said initial jobless claims slid to 222,000, a decrease of 10,000 from the previous week's revised level of 232,000.

Economists had expected jobless claims to fall to 220,000 from the 231,000 originally reported for the previous week.

Meanwhile, the report said the less volatile four-week moving average rose to 217,750, an increase of 2,500 from the previous week's revised average of 215,250.

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