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Initial Jobless Claims Drop

Weekly jobless claims for the week ending May 5th featured the lowest level in a month and players breathed a sigh of relief that the recent 4-week trend higher has been somewhat halted.

Initial jobless claims measure the number of people (non industry-specific) filing first-time claims for state unemployment insurance. This report provides a timely indicator of the direction of the economy, with changes in claims potentially signaling changes in job growth. It is assumed the stronger the job market, the greater the spending power, the healthier the economy.

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