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Initial US jobless claims stable over latest week

Thu, 30th Jul 2020 13:39

(Sharecast News) - Initial jobless claims in the US were little changed during the preceding week, but secondary claims jumped, possibly underlining the difficulty of rejoining the labour force.



According to the Department of Labour, initial unemployment rose by 12,000 over the week ending on 25 July to reach a still extremely high 1.434m.

The four-week moving average, which aims to smooth out the variations from one week to the next, also increased, by 6,500 to approximately 1.369m.

Secondary unemployment claims meanwhile, which track those not filing for the first time, rose by 867,000 to 17,018m over the week ending on 18 July.

Initial claims for the week ending on 18 July were revised up marginally, by 6,000 to 1.416m.

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