- U.S. weekly jobless claims total 360,000
Market news
U.S. weekly jobless claims total 360,000
The
data from the Labor Department showed on Thursday the number of applications
for unemployment decreased in line with expectations last week, hitting its
fresh pandemic-era low.
According
to the report, the initial claims for unemployment benefits fell by 26,000 to 360,000
for the week ended July 10. This was the lowest reading since March 2020,
when the COVID-19 pandemic struck.
Economists
had expected 360,000 new claims last week.
Claims for the prior week
were revised upwardly to 386,000 from the initial estimate of 373,000.
Meanwhile,
the four-week moving average of jobless claims declined to 382,500 from an
upwardly unrevised 397,000 in the previous week.
As
for continuing claims, they dropped to 3,241,000 from an upwardly revised 3,367,000
in the previous week. This was the lowest level since March 2020.
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