US Weekly Jobless Claims at 197,000, Slightly Below Forecast
JOON HYOUNG LEE
Summary
- US initial jobless claims totaled 197,000 last week, 4,000 below the forecast of 201,000.
- Continuing jobless claims stood at 1.782 million, below both the previous week's revised figure and the market forecast.
- Initial jobless claims are an indicator used to gauge 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 30 that initial jobless claims totaled 197,000 last week. That was 4,000 below economists' forecast of 201,000 and 9,000 higher than the previous week's revised 188,000.
Continuing claims, which reflect people receiving benefits for two straight weeks, stood at 1.782 million. That was 7,000 below the previous week's revised 1.789 million and 18,000 lower than the market forecast of 1.8 million.
Initial jobless claims are a gauge of overheating in the US labor market. An increase in claims can be interpreted as a sign that labor-market tightness is easing.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul