U.S. Weekly Jobless Claims Declined Further in the Week Ending May 29, 2021

The U.S. Department of Labor is reporting that an additional 385,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, May 29, 2021 — a decrease of 20,000 from the previous week’s unrevised level. This is the lowest level for this average of initial claims since March 14, 2020, when it was 256,000. The 4-week moving average was 428,000 a decrease of 30,500 from the previous week’s revised average. The advance number for seasonally adjusted insured unemployment, known as continuing claims during the week ending 22nd May 2021 was 3,771,000 an increase of 169,000 from the previous week’s revised level. The 4-week moving average was 3,687,750 an increase of 22,750 from the previous week’s revised average. The advance seasonally adjusted insured unemployment rate was 2.7% for the week ending 22nd May 2021, an increase of 0.1% from the previous week’s unrevised rate.