Initial jobless claims in the United States inched lower by 2,000 from the previous week to 227,000 on the period ending May 17th, the lowest in four weeks, and below market expectations of an increase to 230,000.
The result extended the period of relative strength in the US labor market, despite the prolonged period of elevated interest rates and business pessimism highlighted by key leading economic indicators due to the heightened period of policy uncertainty.
In turn, outstanding unemployment claims rose by 36,000 to 1,903,000 on the previous week, above expectations of 1,890,000, to reflect some difficulty for unemployed individuals to find suitable employment.
In the meantime, initial unemployment claims filed under programs for Federal government employees, which have been under close scrutiny due to firings by the Department of Government Efficiency (DOGE), rose by 157 to 595.
Source: Trading Economics
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