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Jobless claims average rises

May 28, 2015

The US four-week moving average of initial claims for unemployment insurance rose by 5,000 last week to a total of 271,500 from the previous week’s upwardly revised average, according to seasonally adjusted numbers released today by the US Department of Labor.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended May 23 rose by 7,000 to a total of 282,000 from the previous week’s upwardly revised level.

No special factors affected this week’s initial claims.

MarketWatch reports companies are laying off the fewest number of employees since the government began keeping track several decades ago. Many firms complain they cannot find enough skilled job applicants and they are loath to let go of experienced personnel, according to MarketWatch, and in some cases are offering more attractive pay to lure workers.

Bloomberg reports applications for US jobless benefits remained below 300,000 for the 12th straight week, signaling the labor market remains firm even as the economy has been slow to rebound from a first-quarter slump. Claims rose more than its median forecast of 51 economists, which called for 270,000 claims.