AI Summary
US initial jobless claims fell for the fifth consecutive week, reaching the lowest level since mid-April, reflecting continued strength in the labor market.
Applications increased by 7,000 to 241,000 in total during the week ended July 12, the Labor Department data showed.
This came against forecasts for a rise to 233,000, as the previous week's data was revised upward by 1,000.
The four-week average, a more stable measure, declined by 6,250 to 229,500, versus last week’s revised average of 235,750.
This data underscored the labor market’s resilience, even as trade tensions persist and new tariffs on several imports are set to take effect on Aug. 1.
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US Weekly Jobless Claims |
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|
Item |
Last Year |
Last Week |
Current Week |
Change |
|
|
Initial Claims ('000) |
240.0 |
228.0 |
221.0 |
(7) |
|
|
4-Week Average ('000) |
233.25 |
235.75 |
229.50 |
(6.25) |
|
|
No. of Beneficiaries (mln) |
1.866 |
1.954 |
1.956 |
0.002 |
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