The DOL reported:
In the week ending May 13, the advance figure for seasonally adjusted initial claims was 242,000, a decrease of 22,000
from the previous week’s unrevised level of 264,000. The 4-week moving average was 244,250, a decrease of 1,000 from
the previous week’s unrevised average of 245,250.
emphasis addedThe following graph shows the 4-week moving average of weekly claims since 1971.
The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims decreased to 244,250.
The previous week was unrevised.
Weekly claims were below the consensus forecast.