There were 2,981,000 initial claims for unemployment benefits in the United States during the week ending May 9, data released by the United States Department of Labor (DOL) revealed on Thursday. This reading is slightly worse than the market expectation of 2.5 million.
The report also shows that the number of Americans receiving unemployment benefits rose to 22.8 million in the week ending May 2 from 22.3 million (revised from 22.6 million).
The American dollar The index is slightly higher despite the moderate market reaction. At the time of writing, the index was up 0.25% on the day to 100.46.
Additional things to remember
“The 4-week moving average was 3,616,500, down 564,000 from the previous week’s revised average.”
“The insured seasonally adjusted unemployment rate was 15.7% for the week ending May 2, an increase of 0.3 percentage points from the previous week’s revised rate. “