US New Unemployment Claims at 219,000... Up 3,000 from Last Week

The U.S. Department of Labor announced on the 30th (local time) that the number of new unemployment claims last week (May 19-25) increased by 3,000 to 219,000 compared to the previous week.

This figure is below the expert forecast of 218,000 compiled by Dow Jones.

The number of continuing unemployment claims, which are filed by those claiming benefits for at least two consecutive weeks, rose by 4,000 to 1,791,000 for the week of May 12-18 compared to the previous week.

The number of new unemployment claims has remained at a record low level in the low 200,000s since September of last year.

This suggests the possibility that the labor market remains overheated. The U.S. Federal Reserve (Fed) is paying close attention to employment-related indicators, viewing this situation as potentially causing inflation to become entrenched.