States reported that 215,000 workers filed for new unemployment benefits during the week ending May 18, a decrease of 8,000 from the previous week’s revised level.
The previous two weeks saw big bounces in the number of claims, with a revised number of 223,000 claims filed the week ending May 11. The week before had seen an eight-month high in the number of claims.
About 1.8 million workers continue to claim unemployment benefits. The weekly claims are consistent with an overall low level of job-cutting.
Takeaway for employers: Claims are dropping after the previous weeks' spike, much of which has been attributed to New York teachers filing claims during school closures. The U.S. labor market remains resilient.
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