Economic Report: Jobless claims dip to 228,000 in early May

Bloomberg News/Landov
Thanks to a strong jobs market, the number of Americans getting laid off each week is near a 50-year low.

The numbers: The number of people who applied for jobless benefits in early May fell slightly to 228,000, showing little change in one of the strongest labor markets in decades.

Initial jobless claims fell by 2,000 from a seasonally adjusted 230,000 in the prior week, the government said Thursday. Economists polled by MarketWatch estimated new claims would total 218,000 in the seven days ended May 4.

The more stable monthly average of new claims rose by 7,750 to 220,250. The four-week average gives a more accurate read into labor-market conditions than the more volatile weekly number.

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