Initial Jobless Claims Hit New Recovery Low

Initial jobless claims inched down 1.2% to a seasonally adjusted 323,000 for the week ending May 4, according to a Labor Department report released today. These newest numbers are the lowest yet for the recovery period, and mark the third straight week of new claims decreases. The results also managed to beat analyst expectations of a slight 3.4% bump to 335,000 new claims.

Source: Author, data from Labor Department 

The four-week moving average also fell for the third time in as many weeks, down 1.8%, to 336,750. Both the most recent week's number and the moving average clock is solidly below 400,000, a cutoff point that economists consider a sign of an improving labor market.

On a state-by-state basis, 10 states recorded decreases of more than 1,000 in their initial jobless claims for the week ending April 27 (most recent available data). California continued its claims drop this week, with 3,720 less claims (no comment provided by state), while Michigan reported 2,990 less as a result of "fewer layoffs in most industries."

For the same week, only Illinois and Oregon recorded initial claims increases of more than 1,000. In Illinois, the 1,740 bump in initial claims was primarily due to manufacturing and construction layoffs, while Oregon provided no details alongside its 1,240 increase.


Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2422239, ~/Articles/ArticleHandler.aspx, 10/1/2016 3:30:58 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 6 hours ago Sponsored by:
DOW 18,308.15 164.70 0.91%
S&P 500 2,168.27 17.14 0.80%
NASD 5,312.00 42.85 0.81%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes