May 12, 2011
Unemployment Claims Drop
Initial unemployment insurance claims fell on a seasonally adjusted basis to 434,000 for the week ending May 7 from 478,000 the week before, according to the U.S. Department of Labor.
The 4-week moving average continued to rise, reaching 436,750 compared to 432,250 the previous week.
After having one of the biggest increases in claims last week, 4,027, Massachusetts helped lead the decline in claims this week, with a decrease of 2,966. The state attributed the change to fewer layoffs in the transportation and service industries.
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