New weekly jobless claims fell back below the 400,000 level for the first time in three weeks, resuming improvements after a brief bump higher in initial filings.
The Department of Labor released its weekly report on new jobless claims Thursday, and are here are the main metrics from the report compared to consensus data compiled by Bloomberg:
Initial jobless claims, week ended June 26: 364,000 vs. 388,000 expected, and an upwardly revised 415,000 during prior week
Continuing claims, week ended June 19: 3.5 million vs. 3.3 million expected, and an upwardly revised 3.4 million during prior week
At 364,000, new filings reached the lowest level since March 2020. Prior to Thursday’s report, initial unemployment claims had stagnated in recent weeks, holding stubbornly above the 400,000 level even as employers across the economy struggle to fill open positions. However, the overall trend has improved markedly over a longer time horizon, with new claims coming in at about half their total from the beginning of 2021. New claims were coming in at just over 200,000 per week on average throughout 2019.
Click here to see the full report from Emily McCormick at Yahoo Finance.
