FOREX TradingCharts.com

Financial News: U.S. Weekly Jobless Claims Show Modest Increase

U.S. Weekly Jobless Claims Show Modest Increase

08/04/2022 - 09:35:00 (RTTNews)

(RTTNews) - A day ahead of the release of the more closely watched monthly jobs report, the Labor Department released a report on Thursday showing a modest increase in first-time claims for U.S. unemployment benefits in the week ended July 30th.

The report showed initial jobless claims crept up to 260,000, an increase of 6,000 from the previous week's revised level of 254,000.

Economists had expected jobless claims to inch up to 259,000 from the 256,000 originally reported for the previous week.

The Labor Department said the less volatile four-week moving average also edged up to 254,750, an increase of 6,000 from the previous week's revised average of 248,750.

With the uptick, the four-week moving average reached its highest level since hitting 257,000 in the week ended November 27, 2021.

"We think the risk is that claims continue to drift higher as labor market conditions slowly cool, but we don't anticipate a sharp rise from current levels any time soon as demand for workers continues to outstrip supply," said Nancy Vanden Houten, Lead U.S. Economist at Oxford Economics.

Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also rose by 48,000 to 1.416 million in the week ended July 23rd.

The four-week moving average of continuing claims also ticked up to 1,375,250, an increase of 11,000 from the previous week's revised average of 1,364,250.

"The bias for continued claims is also likely to be to the upside as initial claims creep higher," said Vanden Houten. "But we don't expect a surge in continued claims given still tight labor market conditions and our outlook for more workers to return to the labor force."

On Friday, the Labor Department is scheduled to release its highly anticipated report on the employment situation in the month of July.

The report is currently expected to show employment increased by 250,000 jobs in July after jumping by 372,000 jobs in June. The unemployment rate is expected to hold at 3.6 percent.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Australia Unemployment Data Due On Thursday (01 hr(s), 45 min(s), 52 sec(s) ago)
(RTTNews) - Australia will on Thursday release July figures for unemployment, highlighting a light ...Full Story»

Fed Minutes Reaffirm Plans To Continue Raising Interest Rates (04 hr(s), 54 min(s), 52 sec(s) ago)
(RTTNews) - The Federal Reserve released the minutes of its July monetary policy meeting on Wednes ...Full Story»

U.S. Business Inventories Jump In Line With Estimates In June (08 hr(s), 54 min(s), 52 sec(s) ago)
(RTTNews) - The Commerce Department released a report on Wednesday showing a continued surge in U. ...Full Story»

Finland GDP Growth Improves Slightly In Q2 (09 hr(s), 15 min(s), 52 sec(s) ago)
(RTTNews) - Note: Story updated to reflect growth trend in the second quarter Finland's ...Full Story»

U.S. Retail Sales Unchanged Amid Pullbacks In Gas, Auto Sales (10 hr(s), 10 min(s), 52 sec(s) ago)
(RTTNews) - With pullbacks in gasoline and auto sales offsetting strength in other areas, the Comm ...Full Story»

Norway Consumer Confidence At Record Low (10 hr(s), 21 min(s), 52 sec(s) ago)
(RTTNews) - Norwegian consumer confidence worsened to a record low in the third quarter amid risin ...Full Story»

Singapore Non-Oil Exports Climb 1.4% In July (10 hr(s), 30 min(s), 52 sec(s) ago)
(RTTNews) - Non-oil domestic exports in Singapore were up 1.4 percent on month in July, Enterprise ...Full Story»

Portugal PPI Inflation Eases In July (10 hr(s), 57 min(s), 52 sec(s) ago)
(RTTNews) - Portugal's producer price inflation slowed in July, after accelerating in the prev ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Australia Unemployment Data Due On Thursday

08/17/2022 - 18:00 PM (RTTNews)
(RTTNews) - Australia will on Thursday release July figures for unemployment, highlighting a light ...Full Story>>

Fed Minutes Reaffirm Plans To Continue Raising Interest Rates

08/17/2022 - 14:51 PM (RTTNews)
(RTTNews) - The Federal Reserve released the minutes of its July monetary policy meeting on Wednes ...Full Story>>

U.S. Business Inventories Jump In Line With Estimates In June

08/17/2022 - 10:51 AM (RTTNews)
(RTTNews) - The Commerce Department released a report on Wednesday showing a continued surge in U. ...Full Story>>

Finland GDP Growth Improves Slightly In Q2

08/17/2022 - 10:30 AM (RTTNews)
(RTTNews) - Note: Story updated to reflect growth trend in the second quarter Finland's ...Full Story>>

U.S. Retail Sales Unchanged Amid Pullbacks In Gas, Auto Sales

08/17/2022 - 09:35 AM (RTTNews)
(RTTNews) - With pullbacks in gasoline and auto sales offsetting strength in other areas, the Comm ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.