(Department of Labor) US jobless claims hit 400,000 after declining by 24,000 in the week that ended July 24.
Previous week’s jobless claims were revised up by 5,000 to 424,000. On a 4-week average, jobless claims rose by 8,000 to 394,500.
Continuing claims were 3.269 million, up by 7,000 from the previous week. The continuing claims were the lowest since March 21, 2020.
Jobless claims under state programs were 344,653, a 16.2% plunge from the previous week. The decline in jobless claims under state programs was higher than expected 10.2% drop.
Jobless claims rose the highest in Michigan, Texas, Kentucky, Missouri, and Illinois. The claims fell the most in New York, Puerto Rico, Tennessee, Oklahoma, and Georgia.
SPY is up +0.18% on premarket, QQQ is down -0.11%, DXY is down -0.31%
