Updated: 06-May-21 09:29 ET

Initial Claims for the Week Ended May 01

Updated: 06-May-21 09:29 ET

Highlights

• Initial jobless claims for the week ending May 1 declined by 92,000 to 498,000 (Briefing.com consensus 530,000), which is the lowest level since March 14, 2020.
• Continuing claims for the week ending April 24 increased by 37,000 to 3.690 million.

Key Factors

• The four-week moving average for initial claims decreased by 61,000 to 560,000. That is the lowest level since March 14, 2020.
• The four-week moving average for continuing claims decreased by 6,750 to 3,675,750. That is the lowest level since March 28, 2020.
• The total number of continued weeks claimed for benefits in all programs for the week ending April 17 decreased by 404,509 to 16,157,024 versus 17,847,707 in the same week a year ago.

Big Picture

• The key takeaway from the report is the downtrend in initial claims, which is consistent with an economy that is reopening and necessitating more hiring activity.

Category	May 1	Apr 24	Apr 17	Apr 10	Apr 3
Initial Claims	498K	590K	566K	586K	742K
4-Wk Moving Avg	560K	621K	656K	679K	724K
Continued Benefits		3690K	3653K	3652K	3708K
4-Wk Moving Avg		3676K	3683K	3708K	3755K