Not much has changed over the course of a week according to the Department of Labor’s weekly jobless claims report. The report showed 367,000 weekly jobless claims for the week ending on May 5, which is a decrease of 1,000 from the previous week. The drop shows the jobless claims holding steady without much fluctuation. The week before showed the claims at 368,000 – revised from its original total of 365,000.
Last week’s revised claims of 368,000 were still the lowest in a month. This most recent report of 367,000 is the lowest since the end of March. According to a report by Bloomberg, the number of people on unemployment benefit rolls is the lowest since July 2008.
The decreases in the previous claims have brought down the four-week average to 379,000, which is a decrease by 5,250 from the previous average.
The total of initial claims under state programs for the week ending May 5 was 338,418, compared to 397,737 from a year ago.
The state with the largest increase in initial claims in the week ending on April 28 came from Indiana with 2,294. Most of those jobless claims came from its transportation and manufacturing industries, according the department’s release. The state with the largest decrease in jobless claims was New York at 21,258.
-Dustin Bass, @dbass_cmn