The Department of Labor’s weekly report on initial jobless claims doesn’t give much hint about tomorrow’s overall jobless rate in July. The seasonally-adjusted number of claims hit exactly 400,000, down 1,000 from the adjusted figure of 401,000 last week. The initial figure for last week’s report generated some buzz by falling (briefly) below the 400K mark:
In the week ending July 30, the advance figure for seasonally adjusted initial claims was 400,000, a decrease of 1,000 from the previous week’s revised figure of 401,000. The 4-week moving average was 407,750, a decrease of 6,750 from the previous week’s revised average of 414,500.
The advance seasonally adjusted insured unemployment rate was 3.0 percent for the week ending July 23, unchanged from the prior week’s revised rate of 3.0 percent.
The advance number for seasonally adjusted insured unemployment during the week ending July 23 was 3,730,000, an increase of 10,000 from the preceding week’s revised level of 3,720,000. The 4-week moving average was 3,729,750, an increase of 4,500 from the preceding week’s revised average of 3,725,250.