US Initial Jobless Claims Up Slightly, Continuing Claims Near Two-Year Low

Initial US unemployment claims rose by 10,000 to 200,000 in the week ended May 2, while continuing claims fell to 1.77 million, a new two-year low. The mixed labor data points to a still-resilient jobs market with only a slight uptick in weekly filings. The report is relevant for Fed policy expectations, but it is not a major shock to markets on its own.

Analysis

Initial US unemployment claims rose by 10,000 to 200,000 in the week ended May 2, while continuing claims fell to 1.77 million, a new two-year low. The mixed labor data points to a still-resilient jobs market with only a slight uptick in weekly filings. The report is relevant for Fed policy expectations, but it is not a major shock to markets on its own.