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First-time unemployment claims fall for second straight week

First-time unemployment claims fall for second straight week
A now hiring sign is seen in the window of a fast-food restaurant in Orange, California on January 27, 2021. The Labor Department said initially unemployment claims fell for the second straight week and overall claims tumbled to decades-old lows. File Photo by Jim Ruymen/UPI | License Photo

June 2 (UPI) -- The number of people filing first-time unemployment claims fell 11,000 last week from the revised figure the week before, while those filing for jobless benefits overall continue to fall to decades-old lows.

The first-time and overall unemployment claims, one measure of how many people are actively looking for work around the country, fell for the second straight week after jumping to 218,000 for the week ending May 14.

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Those filing for initial jobless insurance claims had fallen to 166,000 on March 19 before taking an uneven rise back to more than 200,000 over the past two months.

The previous week's level was revised up by 1,000 to 211,000 for first-time claimants.

The four-week moving average for initial jobless filings was 206,500, a decrease of 500 from the previous week's revised average.

The Labor Department said those filing for unemployment insurance overall for the week ending May 21 was 1.309 million, a decrease of 34,000 from the previous week. The report said that was the lowest figure for overall claims since Dec. 27, 1969, when it was 1,304 million.

The four-week moving average for overall claims dipped 3,000 to 1.343 million, falling to its lowest rates since Jan. 10, 1970, when it was 1,310,250.

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The report's trend appeared to correspond with the Labor Department's latest Job Opening and Labor Turnover Summary released Wednesday, which saw a near-record 11.4 million job openings in April with 4.4 million quitting their jobs.

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