U.S. Jobless Claims Stay Near Historically Low Level

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WASHINGTON—Layoffs throughout the U.S. are hovering close to the bottom degree in half a century.

The variety of Individuals making use of for unemployment advantages—often called preliminary jobless claims—stood at 211,000 within the week ended Could 5, the Labor Division mentioned Thursday. That determine was unchanged from the prior week and only a contact above the 209,000 claims filed in mid-April, when the determine hit the bottom degree since 1969.

Economists surveyed by The Wall Avenue Journal anticipated 215,000 claims.

By a separate measure, claims fell to a 48-year low final week. That measure, often called the four-week transferring common, displays the variety of claims filed over the previous month, fairly than the previous week. It fell 5,500 to 216,000, the bottom degree since December 1969.

The report is the newest to recommend the U.S. labor market is tightening after a traditionally lengthy enlargement. The unemployment charge fell in April to three.9% the bottom degree since December 2000, the Labor Division mentioned final week.

Job openings throughout the U.S. reached a report 6.6 million on the finish of March, virtually equal to the variety of unemployed staff, the company reported earlier this week.

Thursday’s report confirmed the variety of persevering with unemployment profit claims—these drawn by staff for greater than per week—rose 30,000 to 1.79 million within the week ended April 28. Persevering with claims are reported with a one-week lag.

Write to Josh Mitchell at joshua.mitchell@wsj.com and Sarah Chaney at sarah.chaney@wsj.com

Supply hyperlink – https://www.wsj.com/articles/u-s-jobless-claims-stay-near-historically-low-level-1525955676?mod=pls_whats_news_us_business_f

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