Economic Buzz: US Jobless Claims Rise To Nearly 8-Month High

15 Jul 2022 , 09:23 AM

First-time claims for U.S. unemployment benefits unexpectedly inched higher in the week ended July 9th, according to a report released by the Labor Department. The report showed initial jobless claims crept up to 244,000, an increase of 9,000 from the previous weeks unrevised level of 235,000. The Labor Department said the less volatile four-week moving average also edged up to 235,750, an increase of 3,250 from the previous weeks unrevised average of 232,500. Meanwhile, the report said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, fell by 41,000 to 1.331 million in the week ended July 2nd. Powered by Commodity Insights