US initial jobless claims rose modestly by 10k to 200k in the week ending May 2, slightly above expectations of 199k. Despite the increase, claims levels remain historically low.
Underlying trends in the data were broadly stable. The four-week moving average of initial claims fell by -4,500 to 203,250, helping smooth out weekly volatility and reinforcing the view that layoffs remain relatively contained.
Continuing claims also improved modestly, falling by -10k to 1.766m in the week ending April 25.
| Indicator | Previous | Latest | Expectation |
|---|---|---|---|
| Initial Jobless Claims | 190k | 200k | 199k |
| Continuing Claims | 1.776m | 1.766m | — |
