(Department of Labor) US jobless claims rose by 51,000 to hit a level of 419,000 for the week that ended July 17. The claims were higher than expected 350,000.
Previous week’s jobless claims were revised up by 8,000 to 368,000. On a 4-week average, jobless claims rose by 750 to reach 385,250.
Continuing claims were 3.236 million, down 29,000 from the previous week. The continuing claims were at the lowest level since March 21.
Jobless claims under state programs were 406,053, up 3.7% from the previous week. The increase in claims was a higher than expected drop of 9.3%.
Jobless claims rose the highest in Texas, New York, Pennsylvania, Tennessee, and Missouri. The largest declines in jobless claims were in Georgia, Rhode Island, Puerto Rico, Kentucky, and Maryland.
SPY is down 0.046% on premarket, DXY is down -0.10%.
