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Financial News: U.S. Weekly Jobless Claims Edge Down To 256,000

U.S. Weekly Jobless Claims Edge Down To 256,000

07/28/2022 - 08:42:00 (RTTNews)

(RTTNews) - After reporting modest increases in first-time claims for U.S. unemployment benefits over the three previous weeks, the Labor Department released a report on Thursday showing a slight pullback in initial jobless claims in the week ended July 23rd.

The report showed initial jobless claims edged down to 256,000, a decrease of 5,000 from the previous week's revised level of 261,000.

Economists had expected jobless claims to inch up to 253,000 from the 251,000 originally reported for the previous week.

Meanwhile, the Labor Department said the less volatile four-week moving average crept up to 249,250, an increase of 6,250 from the previous week's revised average of 243,000.

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