US jobless claims decreased to 222,000 last week, with seasonal factors in New York subsiding.
US jobless claims fell last week, dropping by 10,000 to 222,000, as seasonal factors affecting New York claims subsided. The number of Americans filing new claims for unemployment benefits has remained historically low, despite signs of the labor market cooling. The Labor Department reported that initial claims decreased by 10,000 to 222,000 in the week ended May 11, after seasonal factors caused a significant increase in New York claims during the prior week.
May 16, 2024
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