Unemployment claims decrease to 409,000
Washington, D.C., United States (AHN) – Initial jobless claims declined by 29,000 to 409,000 for the week ending May 14 compared to the previous week’s tally of 438,000 claims.
That is still above the 400,000 mark. Analysts say first time unemployment compensation insurcance claims must drop below 400,000 and stay below that mark to signal the economy has turned around.
However, the less volatile four-week moving average was up by 1,250 from the previous figure, increasing to 439,000 claims.
The number of people claiming benefits in all programs for the week ending April 30, the most recent week such data is available fell below the 8 million mark to 7,936,548, a decrease of 47,124 from the previous week.
Here is a look at which states had the largest increase in new claims for the week ending May 7.
- Alabama (+5,767)
- California (+4,015)
- Michigan (+3,122)
- Mississippi (+1,666)
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