The four-week moving average also rose, but continuing claims fell and the insured unemployment rate held steady at 1.2%
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Seasonally adjusted initial unemployment claims rose 13,000 to 225,000 for the week ending May 30, the Labor Department said Thursday. Economists polled by Reuters had forecast 213,000 claims and economists surveyed by The Wall Street Journal had expected 215,000.
The previous week's figure was revised down by 3,000 to 212,000. At 214,750, the four-week moving average climbed by 6,500 — reaching its highest point since February, Bloomberg reported. Memorial Day fell within the reference period for the report, a holiday that can skew the weekly figures.
Despite the rise, other indicators pointed to a stable labor market. Continuing claims for the week ending May 23 declined by 8,000, landing at a seasonally adjusted 1.777 million. The insured unemployment rate held at 1.2%, unchanged from the prior week.
Throughout 2026, weekly claims readings have stayed between roughly 190,000 and 230,000, according to Reuters, a period during which fighting between the U.S. and Israel against Iran has sent commodity prices higher, including for energy, aluminum, and fertilizers. Wednesday's release of the Federal Reserve's Beige Book characterized May employment conditions as showing "little to no change," with the document noting that districts broadly reported "a low-hire, low-fire environment," according to Reuters.
Job-cut announcements in the technology sector have drawn attention, with companies trimming headcount to make room for artificial intelligence investment. U.S.-based employers announced layoffs across technology and other sectors in recent weeks, yet those announcements have not translated into a broad rise in weekly claims. Data from outplacement firm Challenger, Gray & Christmas showed technology companies cut 38,242 positions in May, a monthly total not seen in close to two years, according to Bloomberg.
Friday brings the Bureau of Labor Statistics' May employment report, a survey period that does not overlap with the claims data. A Reuters survey of economists put May nonfarm payroll growth at 85,000, a step down from April's 115,000 gain, while the jobless rate is seen holding at 4.3%.
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