FOREX TradingCharts.com

Financial News: U.S. Weekly Jobless Claims Unexpectedly Inch Up From

U.S. Weekly Jobless Claims Unexpectedly Inch Up From Pandemic-Era Low

07/08/2021 - 09:59:00 (RTTNews)

(RTTNews) - After reporting first-time claims for U.S. unemployment benefits at their lowest level in over a year in the previous week, the Labor Department released a report on Thursday showing initial jobless claims unexpectedly inched higher in the week ended July 3rd.

The Labor Department said initial jobless claims crept up to 373,000, an increase of 2,000 from the previous week's revised level of 371,000.

The uptick surprised economists, who had expected jobless claims to drop to 350,000 from the 364,000 originally reported for the previous week.

Meanwhile, the report said the less volatile four-week moving average edged down by 250 to 394,500, hitting the lowest level since the week ended March 14, 2020.

Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also slid by 145,000 to a more than one-year low of 3.339 million in the week ended June 26th.

The four-week moving average of continuing claims dropped to 3,440,750, a decrease of 44,500 from the previous week's revised average of 3,485,250.

Last Friday, the Labor Department released a separate report showing a continued reacceleration in the pace of U.S. job growth in the month of June.

The report showed non-farm payroll employment spiked by 850,000 jobs in June after surging by an upwardly revised 583,000 jobs in May.

Economists had expected employment to jump by about 700,000 jobs compared to the addition of 559,000 jobs originally reported for the previous month.

Following the decrease in employment seen last December, the pace of job growth has bounced back to its highest level since last August.

Meanwhile, the Labor Department said the unemployment rate unexpectedly inched up to 5.9 percent in June from 5.8 percent in May. The unemployment rate was expected to edge down to 5.7 percent.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Portugal GDP Rebounds In Q2 (07 min(s), 24 sec(s) ago)
(RTTNews) - Portugal's economy expanded in the second quarter after contracting in the previou ...Full Story»

Austria Economy Rebounds In Q2 (25 min(s), 24 sec(s) ago)
(RTTNews) - Austria's economy rebounded strongly in the second quarter to exit a recession, pr ...Full Story»

U.S. Consumer Sentiment Drops Slightly Less Than Initially Estimated In July (01 hr(s), 34 min(s), 24 sec(s) ago)
(RTTNews) - Revised data released by the University of Michigan on Friday showed consumer sentimen ...Full Story»

Chicago Business Barometer Unexpectedly Indicates Faster Growth In July (01 hr(s), 55 min(s), 24 sec(s) ago)
(RTTNews) - A report released by MNI Indicators on Friday unexpectedly showed a notable accelerati ...Full Story»

Italy GDP Growth Accelerates In Q2 (02 hr(s), 51 min(s), 24 sec(s) ago)
(RTTNews) - Italy's economy expanded at a faster pace in the second quarter, the preliminary e ...Full Story»

U.S. Personal Income Unexpectedly Inches Higher In June (02 hr(s), 58 min(s), 24 sec(s) ago)
(RTTNews) - Personal income in the U.S. expectedly saw a slight increase in the month of June, acc ...Full Story»

Eurozone Economy Bounces Back From Pandemic Driven Downturn (03 hr(s), 06 min(s), 24 sec(s) ago)
(RTTNews) - The euro area economy recovered in the second quarter, after two straight quarters of ...Full Story»

U.S. Personal Income Unexpectedly Inches Up 0.1% In June (03 hr(s), 37 min(s), 24 sec(s) ago)
(RTTNews) - Personal income in the U.S. expectedly saw a slight increase in the month of June, acc ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Portugal GDP Rebounds In Q2

07/30/2021 - 12:07 PM (RTTNews)
(RTTNews) - Portugal's economy expanded in the second quarter after contracting in the previou ...Full Story>>

Austria Economy Rebounds In Q2

07/30/2021 - 11:49 AM (RTTNews)
(RTTNews) - Austria's economy rebounded strongly in the second quarter to exit a recession, pr ...Full Story>>

U.S. Consumer Sentiment Drops Slightly Less Than Initially Estimated In July

07/30/2021 - 10:40 AM (RTTNews)
(RTTNews) - Revised data released by the University of Michigan on Friday showed consumer sentimen ...Full Story>>

Chicago Business Barometer Unexpectedly Indicates Faster Growth In July

07/30/2021 - 10:19 AM (RTTNews)
(RTTNews) - A report released by MNI Indicators on Friday unexpectedly showed a notable accelerati ...Full Story>>

Italy GDP Growth Accelerates In Q2

07/30/2021 - 09:23 AM (RTTNews)
(RTTNews) - Italy's economy expanded at a faster pace in the second quarter, the preliminary e ...Full Story>>

Do not sell my personal information

Copyright © 2021. 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.