PiCK
US Initial Jobless Claims at 215,000, Slightly Below Forecast
JOON HYOUNG LEE
Summary
- The US initial jobless claims figure came in at 215,000 last week, 3,000 below the forecast of 218,000.
- Continuing jobless claims stood at 1.814 million, up 8,000 from the prior week’s revised figure but 6,000 below the market forecast of 1.82 million.
- Initial jobless claims are a gauge of overheating in the US labor market.
Forecast Trend Report by Period
US initial jobless claims came in slightly below market expectations last week.
The Labor Department said July 9 that initial jobless claims totaled 215,000 last week. That was 3,000 below economists’ forecast of 218,000 and 2,000 lower than the prior week’s revised 217,000.
Continuing claims, which measure the number of people receiving unemployment benefits for two consecutive weeks, totaled 1.814 million. That was up 8,000 from the prior week’s revised 1.806 million, but 6,000 below the market forecast of 1.82 million.
Initial jobless claims are a gauge of overheating in the US labor market. An increase in claims can indicate that the overheated labor market is cooling.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul