US seasonally adjusted initial claims for jobless benefits fell 24,000 in week ended May 10 from previous week's revised level, to 297,000; four-week average fell 2,000 from previous week's revised average, to 323,250: Dept. of Labor

Cindy Allen

WASHINGTON , May 15, 2014 (press release) – In the week ending May 10, the advance figure for seasonally adjusted initial claims was 297,000, a decrease of 24,000 from the previous week's revised level. This is the lowest level for initial claims since May 12, 2007 when they were 297,000. The previous week's level was revised up by 2,000 from 319,000 to 321,000. The 4-week moving average was 323,250, a decrease of 2,000 from the previous week's revised average. The previous week's average was revised up by 500 from 324,750 to 325,250.

There were no special factors impacting this week's initial claims.

The advance seasonally adjusted insured unemployment rate was 2.0 percent for the week ending May 3, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending May 3 was 2,667,000, a decrease of 9,000 from the previous week's revised level. This is the lowest level for insured unemployment since December 1, 2007 when it was 2,639,000. The previous week's level was revised down by 9,000 from 2,685,000 to 2,676,000. The 4-week moving average was 2,694,500, a decrease of 18,500 from the previous week's revised average. This is the lowest level for this average since December 15, 2007 when it was 2,670,500. The previous week's average was revised down by 2,250 from 2,715,250 to 2,713,000.

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