The number of Americans filing new claims for unemployment benefits dropped last week, consistent with a labor market that remains tight amidst strong demand for workers.
Source: US Department of Labor
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Initial claims for state unemployment benefits fell by 8,000 to a seasonally adjusted 210,000 for the week ended May 2021.
Economists surveyed by Reuters had projected 215,000 applications for the latest week. Some attributed the recent increase in applications to less generous seasonal factors in May.
Continuing claims for state benefits jumped to 1.35 million in the week ended May 14.
Initial claims remain at a historically record-low level, signaling a strong labor market with few dismissals.