US Initial Jobless Claims at 222,000... Down 10,000 from Previous Week

Exceeds Dow Jones Aggregate Forecast by Over 1,000 Cases

Last week (May 5-11), the number of new unemployment insurance claims in the United States was recorded at 222,000.

The U.S. Department of Labor announced on the 16th (local time) the number of new unemployment insurance claims for last week reflecting this figure.

Although it decreased by 10,000 compared to the previous week, it slightly exceeded the expert forecast of 221,000 claims compiled by Dow Jones.

The previous week's claims were revised upward by 1,000 from 231,000 to 232,000.

The number of continuing unemployment insurance claims, which counts those applying for benefits for at least two weeks, was 1,794,000 for the week of April 28 to May 4, an increase of 13,000 from the previous week.

The increase in unemployment insurance claims suggests the possibility that the U.S. labor market, which had been showing signs of overheating, is cooling down. The U.S. Federal Reserve (Fed) is monitoring employment-related indicators closely, as it views an overheated labor market as a factor that could lead to entrenched inflation.

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