US initial jobless claims fall by 17,000
By Iain Gilbert
Date: Thursday 08 Aug 2024
(Sharecast News) - Americans lined up for unemployment benefits at a decelerated pace in the week ended 3 August, according to the Labor Department.
Initial jobless claims fell by 17,000 to 230,000, below market expectations for a print of 240,000, easing from their post-Covid peak but remaining significantly above this year's average.
Continuing claims increased by 6,000 to 1.875m, while the four-week moving average, which aims to strip out week-to-week volatility, increased by 2,500 to 240,750.
Notable decreases of 7,401 and 4,814 were recorded in Michigan and Texas, respectively.
Reporting by Iain Gilbert at Sharecast.com
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