US initial jobless claims dropped -34k to 444k in the week ending May 15, below expectation of 450k. That’s also the lowest level since March 14, 2020. Four-week moving average of initial claims dropped -30.5k to 505k, lowest since March 14, 2020.
Continuing claims rose 111k to 3751k. Four-week moving average of continuing claims rose 25k to 3681k.
