ZCZC
BCN-26
US-UNEMPLOYMENT-MARKET
U.S. jobless claims dip as tightness persists in labor market
WASHINGTON, May 10, 2019 (BSS/Xinhua) – The number of initial jobless
claims in the United States fell 2,000 to 228,000 last week, according to a
report released by the U.S. Labor Department on Thursday.
In the week ending May 4, the number of people filing for U.S.
unemployment benefits edged down from the previous week’s unrevised figure of
230,000.
The report also showed that four-week moving average of initial claims, a
method to iron out data volatility, rose by 7,750 to 220,250. The previous
week’s figure was unrevised, sitting at 212,500.
As a leading indicator to reflect unemployment status in the United
States, a lower reading in jobless claims indicates lower overall layoffs.
The reading of jobless claims remained below the 300,000 threshold, signaling
a tight labor market in the United States.
In April, American employers added a better-than-expected 263,000 jobs,
and the unemployment rate dropped to 3.6 percent, the lowest level since
December 1969, the U.S. Bureau of Labor Statistics reported Friday.
BSS/XINHUA/HR/1425