US initial jobless claims and continuing claims
- prior week
- Initial jobless claims 375K versus 375K estimate. Last week revised to 387K from 385K
- 4 week moving average of initial jobless claims 396.25K vs 394.5K last week
- Continuing claims 2866M vs 2980K last week (revised from 2930K last week)
- 4 week moving average of continuing claims 3101K vs 3200.75 last week
- The largest increases in initial claims for the week ending July 31 were in Indiana (+3,572), Georgia (+1,421), Rhode Island (+1,285), Alabama (+1,226), and Illinois (+1,160),
- The largest decreases were in Pennsylvania (-6,113), Texas (-3,745), Michigan (-3,060), Tennessee (-3,000), and Puerto Rico (-2,979).
The claims data has dipped back below the 400K level over the last few weeks. As the emergency unemployment benefits expire in September, claims for unemployment should fall as the number of jobs outstrip the demand now.