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Unemployment Insurance Weekly Claims Report
In the week ending August 1, the advance figure for seasonally adjusted initial claims was 1,186,000, a decrease of 249,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 1,434,000 to 1,435,000. The 4-week moving average was 1,337,750, a decrease of 31,000 from the previous week's revised average. The previous week's average was revised up by 250 from 1,368,500 to 1,368,750. The advance seasonally adjusted insured unemployment rate was 11.0 percent for the week ending July 25, a decrease of 0.6 percentage point from the previous week's unrevised rate. The advance number ... (full story)
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U.S. weekly jobless claims total 1.186 million, vs 1.423 million expected
Weekly jobless claims hit their lowest level of the pandemic area, totaling 1.186 million last week, well below Wall Street expectations. Economists surveyed by Dow Jones had been looking for 1.42 million. Amid worries that the employment picture was faltering after two record-breaking months of job creation, the claims number indicates some momentum. Continuing claims, or those who have collected benefits for two straight weeks, dropped by 844,000 to 16.1 million. Markets reacted positively to the news, with Dow futures shaving almost all of their earlier losses as stocks looked to open about flat. The last time the ... (full story)