Breaking News ….

May 19, 2022

U.S. weekly jobless claims rise; continuing claims lowest since 1969

  • Initial claims for state unemployment benefits increased 21,000 to a seasonally adjusted 218,000 for the week ended May 14, the highest level since January, the Labor Department said on Thursday. Economists polled by Reuters had forecast 200,000 applications for the latest week.
  • Though claims have been largely treading water since hitting more than a 53-year low of 166,000 in March, the labor market is rapidly tightening and generating strong wage gains that are helping to fan overall inflation in the economy.
  • There were a record 11.5 million job openings at the end of March. Claims are down from an all-time high of 6.137 million in early April 2020.

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