Updated: 25-Jul-24 09:49 ET
| Initial Claims for the Week Ended Jul 20 |
 |
|
| Updated: 25-Jul-24 09:49 ET |
Highlights
- Initial jobless claims for the week ending July 20 decreased by 10,000 to 235,000 (Briefing.com consensus 240,000).
- Continuing jobless claims for the week ending July 13 decreased by 9,000 to 1.851 million.
Key Factors
- The four-week moving average for initial claims increased by 250 to 235,500.
- The four-week moving average for continuing claims increased by 4,750 to 1,853,500 -- the highest level since December 4, 2021.
- The total number of continued weeks claimed for benefits in all programs for the week ending July 6 was 1,970,339, an increase of 152,145 from the previous week. In the same week a year ago, there were 1,913,359 weekly claims filed for benefits in all programs.
Big Picture
- The key takeaway from the report is that there hasn't been an alarming jump in initial claims -- a leading indicator -- to even higher levels; therefore, a conclusion will be drawn that the labor market is seeing some normal slowing as opposed to a rapid deterioration.
| Category | Jul 20 | Jul 13 | Jul 6 | Jun 29 | Jun 22 |
| Initial Claims | 235K | 245K | 223K | 239K | 234K |
| 4-Wk Moving Avg | 236K | 235K | 234K | 239K | 236K |
| Continued Benefits | 1851K | 1860K | 1847K | 1856K | |
| 4-Wk Moving Avg | 1854K | 1849K | 1839K | 1831K |
|
|