Economic Buzz: US Weekly Unemployment Benefits Claims Declines

19 Aug 2022 , 09:28 AM

A report released by the Labor Department on Thursday unexpectedly showed a modest pullback in first-time claims for U.S. unemployment benefits in the week ended August 13th. The Labor Department said initial jobless claims edged down to 250,000, a decrease of 2,000 from the previous weeks revised level of 252,000. The report showed the less volatile four-week moving average also dipped to 246,750, a decrease of 2,750 from the previous weeks revised average of 249,500. Meanwhile, the Labor Department said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, crept up by 7,000 to 1.437 million in the week ended August 6th. The four-week moving average of continuing claims also rose to 1,413,000, an increase of 13,250 from the previous weeks revised average of 1,399,750.Powered by Commodity Insights