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

22 Jul 2022 , 09:15 AM

The US Labor Department released a report unexpectedly showing another modest increase in first-time claims for U.S. unemployment benefits in the week ended July 16th. The report showed initial jobless claims crept up to 251,000, an increase of 7,000 from the previous weeks unrevised level of 244,000. Jobless claims inched higher for the third straight week, reaching their highest level since hitting 265,000 in the week ended November 13, 2021. The Labor Department said the less volatile four-week moving average also edged up to 240,500, an increase of 4,500 from the previous weeks revised average of 236,000.Powered by Commodity Insights