U.S. Jobless Claims Tick Up to 215,000, But Labor Market Stays Resilient

U.S. unemployment insurance claims have remained broadly stable in recent months despite the ongoing Iran war, and the latest data shows that trend holding. Initial claims rose by 5,000 to 215,000 in the week ending May 23, the Department of Labor reported Thursday. The prior week's figure was revised up by 1,000 to 210,000. The four-week moving average climbed to 209,000, up 6,250 from the prior week's revised average of 202,750. A year ago, initial claims stood at 236,000. Insured unemployment, the number of people actively collecting benefits, rose 15,000 to 1,786,000 for the week ending May 16, with the insured unemployment rate holding steady at 1.2%. The four-week average for insured unemployment came in at 1,772,750. Total continued claims across all programs for the week ending May 9 fell 22,143 to 1,697,017, compared with 1,808,299 in the same week last year.