Odaily News According to BlockBeats, on May 16, the number of initial jobless claims in the United States for the week ending May 11 was 222,000, which was expected to be 220,000 and the previous value was 231,000. The number of initial jobless claims in the United States fell last week, showing the potential strength of the job market. The number of initial jobless claims in the United States for the week ending May 11 was 222,000. Last week, the figure rose to its highest level in more than eight months, and the slight decline this week reversed some of the increase last week. The increase in initial jobless claims this week was largely attributed to a surge in unemployment claims in New York related to the school spring break. Although the U.S. labor market remains healthy, it is steadily rebalancing after the Federal Reserve has raised interest rates by 525 basis points since March 2022. The easing of labor market conditions and the resumption of a downward trend in inflation have increased the likelihood of a rate cut in September. (Jinshi)