Insured Unemployment Figures
The total number of insured unemployed individuals for the week ending May 11 increased by 8,000 to 1,794,000, up from the previous week’s revised figure of 1,786,000. Despite this increase, the four-week moving average of insured unemployment rose by a modest 5,000, reaching 1,782,250. This average is a slight revision from the prior week’s figure of 1,777,250.
Market Forecast
The decline in initial claims to 215,000, below the pre-report estimate of 220,000, suggests a resilient job market. Although the four-week averages for both initial and insured unemployment claims have increased slightly, the steady insured unemployment rate of 1.2 percent points to underlying stability in the labor market.
Outlook
Given these figures, the outlook remains cautiously bullish for the job market. The slight decrease in initial claims, combined with the…
Read More