US initial jobless claims rose 1k to 203k in the week ending May 7, above expectation of 190k. Four-week moving average of initial claims rose 4k to 193k.
Continuing claims dropped -44k to 1343k in the week ending April 30, lowest since January 3, 1970 when it was 1332k. Four-week moving average of initial claims dropped -33k to 1385k, lowest since January 31, 1970 when it was 1374k.
