The Labor Department released its weekly unemployment statistics on Thursday. It showed that 385,000 workers filed for unemployment benefits in the week ending on May 29th. That was another decrease in the number filing, and was the lowest figure since before the pandemic, but it is still higher than normal. It shows that we are beginning to get control of the pandemic, but more must be done.
Here is the official Labor Department statement:
In the week ending May 29, the advance figure for seasonally adjusted initial claims was 385,000, a decrease of 20,000 from the previous week's revised level. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The previous week's level was revised down by 1,000 from 406,000 to 405,000. The 4-week moving average was 428,000, a decrease of 30,500 from the previous week's revised average. This is the lowest level for this average since March 14, 2020 when it was 225,500. The previous week's average was revised down by 250 from 458,750 to 458,500.