US initial jobless claims edged lower by -3k to 209k in the week ending May 16, slightly below expectations of 210k and consistent with a labor market that remains relatively resilient despite slowing economic momentum elsewhere. Four-week moving average of initial claims also declined by -1.5k to 202.5k, suggesting layoffs remain contained overall.
Continuing claims, however, rose modestly by 6k to 1.782m in the week ending May 9, indicating some unemployed workers may still be finding it harder to secure new jobs quickly. Even so, four-week moving average of continuing claims fell by -6.5k to 1.773m, pointing to broadly stable labor market conditions.
