Weekly Unemployment Claims: Down 8K

Here is the opening statement from the Department of Labor:

In the week ending May 21, the advance figure for seasonally adjusted from the previous week's unrevised level of 218,000. The 4initial claims was 210,000, a decrease of 8,000 week moving average was 206,750, an increase of 7,250 from the previous week's unrevised average of 199,500. The advance seasonally adjusted insured unemployment rate was 1.0 percent for the week ending May 14, an increase of 0.1 percentage point from the previous week's unrevised rate.

The advance number for seasonally adjusted unemployment ins ured during the week ending May 14 was 1,346,000, an increase of 31,000 from the previous week's revised level. The previous week's level was revised down by 2,000 from 1,317,000 to 1,315,000. The 4week moving average was 1,347,500, a decreas e of 14,250 from the previous week's revised average. This is the lowest level for this average since January 17, 1970 when it was 1,340,000. The previous week's average was revised down by 500 from 1,362,250 to 1,361,750. [See full report]

This morning's seasonally adjusted 210K new claims, down 8K from the previous week's revised figure, was below the Investing.com forecast of 215K.

Here is a close look at the data over the decade (with a callout for the past year), which gives a clearer sense of the overall trend.