US Jobless Claims Hold Steady at 229K, Continuing Claims Edge Higher

US Jobless Claims Hold Steady at 229K, Continuing Claims Edge Higher

The number of Americans filing for first-time unemployment benefits remained unchanged at 229,000 for the week ending May 10, according to data released Thursday by the US Department of Labor. The figure matched expectations and confirmed the previous week’s revised total of 229K (originally 228K).

The four-week moving average, which helps smooth out weekly volatility, increased by 3,250 to 230,500—suggesting a modest softening trend in the labor market.

Continuing Jobless Claims, which represent the number of people still receiving benefits after an initial week of aid, rose by 9,000 to 1.881 million for the week ending May 3. The seasonally adjusted insured unemployment rate held steady at 1.2%.