Economic Buzz: US Weekly Jobless Claims Slips Down From 8-Month High

29 Jul 2022 , 09:06 AM

After reporting modest increases in first-time claims for U.S. unemployment benefits over the three previous weeks, the Labor Department released a report 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 weeks revised level of 261,000. 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 weeks revised average of 243,000. The report also showed continuing claims, a reading on the number of people receiving ongoing unemployment assistance, fell by 25,000 to 1.359 million in the week ended July 16th. Powered by Commodity Insights