By Sarah Chaney and Sharon Nunn 
 

WASHINGTON-The number of Americans filing applications for new unemployment benefits fell last week for the third consecutive week, pointing to a historically tight labor market.

Initial jobless claims, a proxy for layoffs across the U.S., were a seasonally adjusted 211,000 in the week ended May 18, the Labor Department said Thursday. Economists surveyed by The Wall Street Journal expected 215,000 new claims last week.

Data can be volatile from week to week. The four-week moving average of claims, a steadier measure, decreased to 220,250.

In mid-April, claims hit 193,000, the lowest level since 1969. They have since trended upwards but still remain near historic lows, signaling the labor market remains solid, though perhaps less robust, heading into the summer months.

Job openings have outnumbered unemployed workers for more than a year, making it harder for managers to find and keep employees. This has driven claims lower.

The report also showed the number of claims workers made for longer than a week increased by 12,000 to 1,676,000 in the week ended May 11. The figure, also known as continuing claims, is reported with a one-week lag.

Write to Sarah Chaney at sarah.chaney@wsj.com and Sharon Nunn at sharon.nunn@wsj.com

(END) Dow Jones Newswires

May 23, 2019 08:45 ET (12:45 GMT)

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