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U.S. initial jobless claims fall to 209,000 for the week ending May 16

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U.S. initial jobless claims for the week ending May 16 declined to 209,000, below the expected 210,000. The prior week’s figure was revised to 212,000. The four-week average fell to 202,500. With economic data stabilizing, altcoins to watch may gain momentum in the crypto market. Traders are closely monitoring how the labor market influences crypto market sentiment.

Odaily Planet Daily report: The number of initial jobless claims in the United States for the week ending May 16 was 209,000, compared to an expectation of 210,000 and a revised prior value of 212,000 from 211,000.

The four-week moving average of initial jobless claims in the United States through the week ending May 16 was 202,500, compared to the previous value, revised from 203,750 to 204,000.

Continuing jobless claims in the U.S. for the week ending May 9 came in at 1.782 million, compared to expectations of 1.785 million and a revised prior value of 1.776 million. (GoldTen)

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