Justin Sullivan/Getty Images
Industryweek 8719 Unemployment2
Industryweek 8719 Unemployment2
Industryweek 8719 Unemployment2
Industryweek 8719 Unemployment2
Industryweek 8719 Unemployment2

US Jobless Claims Falls to 15-year Low

May 7, 2015
"Claims continue to show no sign of an uptrend, consistent with a still-strong trend in employment growth," said Jim O'Sullivan, chief U.S. economist at High Frequency Economics.

New claims for U.S. unemployment insurance benefits rose modestly last week but the overall trend fell to a 15-year low, the Labor Department reported Thursday.

Initial jobless claims, a sign of the pace of layoffs, rose by 3,000 to 265,000 in the week ending May 2, the department said.

The four-week moving average, which helps to smooth volatility in the weekly numbers, fell by 4,250 to 279,500, the lowest level since early May 2000. A year ago the average stood at 324,750.

The claims data came a day ahead of the government's April jobs report. The Labor Department is expected to report Friday that the economy added 218,000 jobs last month, rebounding from a tepid 126,000 in March, with the unemployment rate dipping a tenth point to 5.4 percent.

"Claims continue to show no sign of an uptrend, consistent with a still-strong trend in employment growth," said Jim O'Sullivan, chief U.S. economist at High Frequency Economics, in a client note.

"The pattern does not assure a 200K-plus rise in payrolls tomorrow, but it suggests the trend is still at least that strong.  We are still forecasting a 260K rise."

Copyright Agence France-Presse, 2015

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!