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REPEAT:MNI DATA ANALYSIS: US Jobless Claims +11k In May 12 Wk>

Repeats Story Initially Transmitted at 12:30 GMT May 17/08:30 ET May 17
--Initial Claims Four-Wk Average -2,750 To 213,250, Low Since Dec 1969 
By Kevin Kastner and Holly Stokes
     WASHINGTON (MNI) - Initial claims U.S. state unemployment benefits 
rose by 11,000 to 222,000 in the May 12 employment survey week, ahead of 
the 215,000 level expected by analysts in an MNI survey, but still low 
enough to drive down the four week moving average to another new 
decades-low level, data released by the Labor Department Thursday 
showed. 
     The level of initial claims was down 11,000 from the 233,000 level 
in the April 14 employment survey week, a positive for May payrolls, 
though not as impressive as the comparison would have been in the 
previous weeks. 
--CLAIMS FOUR-WEEK AVERAGE ANOTHER 48-YEAR LOW 
     The four-week moving average for initial claims, which tends to be 
a better measure of the underlying trend of the data, fell by 2,750 to 
213,250 in the May 12 week. The average stands at its lowest point since 
the December 13, 1969 week, when it was 210,750 and is 18,250 below the 
average in the April 14 employment survey week, another significant 
positive for May payrolls. 
     If the number of headline claims does not change next week and 
there are no revisions to data from the past four weeks, the four-week 
average will rise by 3,250 as the 209,000 level in the April 21 week 
rolls out of the calculation, but the average will still be extremely 
low. 
     Seasonal adjustment factors had expected a decrease of 2.7%, or 
5,074, in unadjusted claims. Instead, unadjusted claims rose by 4,295 
(2.3%) to 194,557. The current week's level was still below the 206,905 
level in the comparable week a year ago. 
     The only states where claims were estimated were again Colorado and 
Maine. However, the claims taking procedures in the Virgin Islands and 
Puerto Rico have still not returned to normal.   
--CONTINUING CLAIMS FALL FURTHER 
     The level of continuing claims fell by 87,000 to 1.707 million in 
the May 5 week, the lowest level since the December 1, 1973 week, when 
it was 1.692 million. 
     Before seasonal adjustment, continuing claims fell by 133,062 to 
1.591 million, well below the 1.782 million level seen in the comparable 
week last year. 
     The four-week average for continuing claims, a more reliable 
measure when the continuing claims are rapidly moving week-to-week, fell 
by 39,750 to 1.774 million, the lowest point since the December 22, 1973 
week. 
     The seasonally adjusted insured unemployment rate fell to 1.2% in 
the May 5 week, down from 1.3% in the previous week and 1.4% in the same 
week a year earlier. 
     The unemployment rate among the insured labor force is well below 
that reported monthly by the Labor Department because claims are 
approved for the most part only for job losers, not the job leavers and 
labor force reentrants included in the monthly report. 
     ** MNI Washington Bureau: 202-371-2121 ** 

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