Continue Reading Below Initial claims for state unemployment benefits rose 11,000 to a seasonally adjusted 222,000 for the week ended May 12, the Labor Department said on Thursday. The claims report also showed the number of people receiving benefits after an initial week of aid declined 87,000 to 1.71 million in the week ended May 5, the lowest level since December 1973. This material may not be published, broadcast, rewritten, or redistributed. ©2018 FOX News Network, LLC.
Shares are up roughly 1.7% in today’s pre-market; they are still off the all-time highs experienced earlier this year, but up around 3% over the past week. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. Key Takeaways Even with the weekly increase, claims remain near the lowest in almost five decades, indicating the labor market remains robust.