US Initial Jobless Claims Rise More than Expected

The number of people claiming unemployment benefits in the US rose by 9,000 to 209,000 on the first week of August, above market expectations of 202,000. Continuing claims, which are seen as a gauge of outstanding unemployment in the US, declined by 22,000 to 1,777,000 in the earlier week. The data pointed to some resilience in the US labor market despite weaker signals from the latest BLS jobs report, broadly aligning with statements from FOMC members that see the US economy in full employment. Meanwhile, initial claims filed by federal employees, which have been under scrutiny due the administration's efforts in decreasing the number of public workers, fell by 49 to 401.

The number of people claiming unemployment benefits in the US inched higher by 1,000 to 199,000 on the final week of July, slightly under market expectations of 202,000 to remain near the 57-year low of 188,000 two weeks prior. Continuing claims, which are seen as a gauge of outstanding unemployment in the US, rose by 24,000 to 1,801,000 in the earlier week, remaining well under averages from this year. The data continued to reflect a strong labor market in the US, aligned with statements from FOMC members that see the US economy in full employment. Meanwhile, initial claims filed by federal employees, which have been under scrutiny due the administration's efforts in decreasing the number of public workers, rose by 32 to 450.

The number of people claiming unemployment benefits in the US were at 197,000 on the week ending July 25th, rebounding by 9,000 from the 57-year low in the previous period but still under median expectations of 200,000. Continuing claims, which are seen as a gauge of outstanding unemployment in the US, fell by 7,000 to 1,782,000 in the earlier week, below expectations of 1,800,000 to mark the lowest in over one month. The data continued to reflect a strong labor market in the US, aligned with statements from FOMC members that see the US economy in full employment. Meanwhile, initial claims filed by federal employees, which have been under scrutiny due the administration's efforts in decreasing the number of public workers, fell by 52 to 418.