Initial Unemployment Claims Drops

SEASONALLY ADJUSTED DATA

In the week ending May 31, the advance figure for seasonally adjusted initial claims was 357,000, a decrease of 18,000 from the previous week's revised figure of 375,000. The 4-week moving average was 368,500, a decrease of 2,750 from the previous week's revised average of 371,250.

The advance seasonally adjusted insured unemployment rate was 2.3 percent for the week ending May 24, unchanged from the prior week's unrevised rate of 2.3 percent.
The advance number for seasonally adjusted insured unemployment during the week ending May 24 was 3,093,000, a decrease of 16,000 from the preceding week's revised level of 3,109,000. The 4-week moving average was 3,085,750, an increase of 15,250 from the preceding week's revised average of 3,070,500.
The fiscal year-to-date average for seasonally adjusted insured unemployment for all programs is 2.883 million.