US jobless claims rise for second consecutive week

The number of US claims filed for unemployment benefits rose unexpectedly last week, continuing its rise for the second week in a row.

 

Initial jobless claims increased by 7,000 to 226,000 during the week ended August 2, the US Department of Labor said today, August 7.

 

This came against expectations of a 231,000-rise from the previous week’s revised figure of 219,000.

 

The four-week moving average of jobless claims also dropped by 500 to 220,750, compared to the previous week’s upwardly revised average of 221,250 (+250).

 

This report represents the first labor market data since the disappointing July jobs report, which prompted US President Donald Trump to fire the head of the Bureau of Labor Statistics.

 

US Weekly Jobless Claims

Item  

Year Earlier

Previous

Current

Change

Initial Claims (‘000)

234.0

219.0

226.0

7

4-Week Average (‘000)

239.5

221.25

220.75

(0.5)

Number of Beneficiaries (mln)

1.876

1.936

1.974

0.038

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