US initial jobless claims 260K vs. 259K estimate

• Prior week 256K revised to 254K from 256K
• Initial jobless claims 260K vs. 259K estimate
• 4 week moving average of initial jobless claims 254.75K vs 248.75K
• Continuing claims 1.416M vs. 1.370M estimate
• 4 week moving average of continuing claims 1.375M vs 1.364M last week

The largest increases in initial claims for the week ending July 23 were in Kentucky (+1,051), Virginia (+283), New Mexico (+51), the Virgin Islands (+21), and South Dakota (+7), while the largest decreases were in Massachusetts (-7,490), New York (-5,769), South Carolina (-3,170), California (-3,122), and Alabama (-2,125).

The US nonfarm payroll jobs report will be released tomorrow with expectations of again around 250K.

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