US: Weekly initial jobless claims decreased to 212K from 228K

According to the weekly data published by the U.S. Department of Labor (DOL), 212,000 citizens applied for unemployment benefits in the week ending May 11. " The advance number for seasonally adjusted insured unemployment during the week ending May 4 was 1,660,000, a decrease of 28,000 from the previous week's revised level." the DOL said in its publication.

"The 4-week moving average was 225,000, an increase of 4,750 from the previous week's unrevised average of 220,250."