A WEEKLY ECONOMIC UPDATE FROM CONGRESSMAN GREGORY W. MEEKS

Employment

• Initial claims for unemployment insurance fell by 29,000 in the week ended May 14 to 409,000. Continued claims for unemployment insurance dropped by 81,000 in the week ended May 7 to 3.71 million. (Employment and Training Administration)
• From March to April, payroll employment rose in 42 states and the District of Columbia. (Bureau of Labor Statistics)
• The Empire State Manufacturing Survey employment index edged up 1.7 points in May to 24.7. The index reached its highest level in seven years and has pointed to manufacturing employment growth for five straight months. (New York Federal Reserve)
• The Philadelphia Federal Reserve Bank Business Outlook Survey’s employment index advanced 9.8 points to 21.1, pointing to employment growth for the ninth straight month. (Philadelphia Federal Reserve)