4 week MA 235.25 vs 241.00K last week.
The weekly US initial jobless claims came in at 234K vs 238K estimate. The prior week was revised to 233K vs 232K. The 4-week average moved lower to 235.25K from 241 last week. This is the lowest level for this average since April 14, 1973 when it was 232.750K.
Continuing claims came in about expected at 1923K vs 1925K estimate. The prior week was revised slightly higher to 1899K vs 1898k.
The largest increases in initial claims for the week ending May 13 were in Connecticut (+913), Oregon (+891), New York (+537), Alabama (+464), and Virginia (+299).
The largest decreases were in California (-5,512), Illinois (-1,035), Michigan (-522), Missouri (-429), and Florida (-368).
The jobs market remains the shining star.
