Initial claims for the week ending May 20 increased by 4,000 to 229,000 (consensus 247,000). The prior week saw a downward revision to 225,000 from 242,000.
Continuing jobless claims for the week ending May 13 decreased by 5,000 to 1.794 million.
The key takeaway from the report is that initial jobless claims are nowhere near recession levels. They continue to register in a manner that connotes tight labor market conditions.