US initial jobless claims dropped -34k to 473k in the week ending May 8, better than expectation of 487k. That’s the lowest since March 14, 2020. Four-week moving average of initial claims dropped -28k to 534k, lowest since March 12, 2020.
Continuing claims dropped -45k to 3655k in the week ending May 1. Four-week moving average of continuing claims dropped -13k to 3665k, lowest since March 28, 2020.
