U.S. weekly jobless claims at 215,000 for July 4 week
Claims came in below forecasts as continuing claims rose to 1.81 million; the report helped reassure investors after softer June hiring and coincided with a record Dow close.
Summary
Initial U.S. jobless claims totaled 215,000 in the week ending July 4, below expectations around 218,000 to 220,000. The prior week's figure was revised up to 217,000. The four-week moving average fell by 3,750 to 218,750, while continuing claims rose by 8,000 to 1.81 million for the week ending June 27. The data suggested layoffs remained historically low despite softer June hiring, and the release helped support a broader market rally that saw the Dow Jones Industrial Average close at a record 52,900.07.
Terms & Concepts
- initial jobless claims: Weekly count of new unemployment benefit applications.
- continuing claims: The number of people continuing to receive unemployment benefits after an initial claim.
- four-week moving average: A rolling average used to smooth weekly volatility in data such as jobless claims.