Tuesday, May 17, 2022
Home Business Weekly jobless claims total 362,000 above 335,000 estimate

Weekly jobless claims total 362,000 above 335,000 estimate


Initial jobless claims climbed again last week, rising to 362,000 as hiring appeared to remain sluggish while the U.S. continues to fight against the delta variant.

Economists surveyed by Dow Jones had been expecting 335,000 new filings, the same number as the upwardly revised total from the previous week.

The total was the highest since the 377,000 for the week ended Aug. 7 and indicates that hiring may be slowing at a time when concerns are growing about the pace of the economic recovery and the impact the pandemic may have heading into autumn.

Markets reacted little to the news, with stock futures continuing to point higher and government bond yields around flat.

The four-week moving average for weekly claims, which smoothes volatility in the numbers, edged lower to 335,750.

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