U.S. Initial Unemployment Claims Down 11.5% from Year Ago

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In the week ending May 12, the advance figure for seasonally adjusted initial claims was 370,000, unchanged from the previous week's revised figure of 370,000 but down 11.5% from the same week a year ago. The 4-week moving average was 375,000, a decrease of 4,750 from the previous week's revised average of 379,750. The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending May 5, unchanged from the prior week's revised rate. The highest insured unemployment rates in the week ending April 28 were in Alaska (5.3), Puerto Rico (3.9), California (3.7), Pennsylvania (3.6), New Jersey (3.5), Oregon (3.5), Connecticut (3.3), Rhode Island (3.2), Illinois (3.1), Nevada (3.1), and Wisconsin (3.1). The largest increases in initial claims for the week ending May 5 were in Missouri (+2,569), New York (+2,276), Pennsylvania (+1,674), California (+1,613), and Texas (+1,229), while the largest decreases were in Florida (-2,599), Indiana (-1,735), Connecticut (-1,038), New Hampshire (-836), and Massachusetts (-668). Note: “Insured rate” refers to individuals who are unemployed and receiving UC benefits. Source: USDOL

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