UIWCR - Unemployment Insurance Claims; 051911

The U.S. Department of Labor's Unemployment Insurance Weekly Claims Report for the week ending 051411 indicates seasonally adjusted initial claims were 409,000 vs. 438,000 for the week ending 050711, a sequential decrease of 29,000 initial claims, or 6.62%; year-over-year initial claims fell 14.26%, from 477,000. Chart Link: Unemployment Insurance Weekly Claims

The outcome was below the consensus forecast. Briefing.com reported the consensus forecast at 420,000 initial claims.