In the week ending May 28, 422,000 seasonally adjusted initial jobless claims were filed, according to data released by the Labor Department on Thursday morning. Slightly more people than expected filed for benefits; the median figure of economists surveyed by Bloomberg was 417,000.
The previous week’s initial claims figure was revised to 428,000. The four-week moving average was 425,500, a decrease of 14,000 from the previous week's revised average of 439,500. Jobless claims need to come in below 400,000 to dent the unemployment rate.