RTTNews - The U.S. Labor Department revealed that initial jobless claims came in at 631,000 for the week ended May 16th. This was down 12,000 from the previous week's revised total of 643,000.

The 4-week moving average for initial claims, a statistic that flattens out week-to-week volatility in the data, slipped to 628,500.

The number of people receiving ongoing unemployment help, a figure known as continuing claims, rose again in the latest statistics. Continuing claims climbed to 6.662 million - yet another record high.

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