US: Weekly initial claims was 234,000, an increase of 1,000 from the previous week

In the week ending May 20, the advance figure for seasonally adjusted initial claims was 234,000, an increase of 1,000 from the previous week's revised level, said the US Department of Labor on Thursday.

Key highlights:

• The previous week's level was revised up by 1,000 from 232,000 to 233,000.
• The 4-week moving average was 235,250, a decrease of 5,750 from the previous week's revised average. This is the lowest level for this average since April 14, 1973 when it was 232,750.
• The advance seasonally adjusted insured unemployment rate was 1.4 percent for the week ending May 13, unchanged from the previous week's unrevised rate.
• The advance number for seasonally adjusted insured unemployment during the week ending May 13 was 1,923,000, an increase of 24,000 from the previous week's revised level.