(Department of Labor) US jobless claims advanced by 2,000 to hit 373,000, more than expected 350,000 for the week that ended July 3. The claims rise reflected waning rates of job growth.
The previous week’s jobless claims were revised up by 7,000 to 371,000.
On a four-week moving average, jobless claims totaled 394,500, a marginal decline of 250 from the previous week. The claims were the lowest since March 14, 2020.
Continuing claims totaled 3.339 million, down by 145,000 from the previous week. The continuing claims were the lowest since March 21,2020.
Total claims under state programs increased by 0.9% or 3,147 to hit 369,661. The increase was higher than the expected jump of 0.4% or 1,582.
Initial claims rose the largest in Puerto Rico, New Jersey, Massachusetts, New York, and Connecticut. Claims declined the largest in Pennsylvania, Kentucky, California, Texas, and Michigan.
DXY is down -0.35%, SPY is down -1.40% on premarket.
