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US initial claims rise by 4,000, but previous week’s level gets downward revision

May 25, 2023

US initial jobless claims rose by 4,000 in the week ended May 20 to a total of 229,000, the US Department of Labor reported today. The previous week’s level was revised downward by 17,000.

Claims surged as of late because of fraudulent applications in Massachusetts, but they remain at levels consistent with a labor market that is still tight, Reuters reported.

Meanwhile, the four-week moving average of claims remained unchanged at 231,750, though the previous week’s average was revised down by 12,500.