U.S. first-time unemployment claims dip in early May to 228,000
The numbers: The number of people who applied for jobless benefits in early May fell slightly to 228,000, showing little change in one of the strongest labor markets in decades.
The more stable monthly average of new claims rose by 7,750 to 220,250. The four-week average gives a more accurate read into labor-market conditions than the more volatile weekly number. Yet raw claims — the actual number of people who filed — indicate that layoffs may have increased in the past month. Raw claims have been higher in the past two weeks compared to a year earlier.
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