The U.S. labor market is not signaling any signs of wider layoffs as the number of Americans filing for new applications for unemployment benefits declined last week, government data show.
According to new figures from the Department of Labor, released on May 8, initial jobless claims fell by 13,000 to 228,000 for the week ending May 3.
This came in below the consensus forecast of 230,000.
For the second consecutive week, the largest increases in initial jobless claims were centered in New York (15,418) and Massachusetts (3,301).
Continuing jobless claims—a measure of individuals who continue to receive unemployment benefits—declined by 29,000 to a lower-than-expected 1.87 million. The previous week’s number was adjusted lower to 1.9 million….