- U.S. weekly jobless claims total 375,000
Market news
U.S. weekly jobless claims total 375,000
The
data from the Labor Department showed on Thursday the number of applications
for unemployment decreased in line with
forecasts last week.
According to the report, the initial claims for unemployment benefits fell by 12,000 to 375,000 for the week ended August 7. This was the lowest reading in four weeks.
Economists had expected 375,000 new claims last week.
Claims for the prior week were revised upwardly to 387,000 from the initial estimate of 385,000.
Meanwhile,
the four-week moving average of jobless claims rose to 396,250 from an upwardly
revised 394,500 in the previous week.
As
for continuing claims, they slipped to 2,866,000 from an upwardly revised 2,980,000
in the previous week. This was the lowest reading since March 2020.
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