US: Initial Jobless Claims dropped to 227K last week
The US Department of Labour (DOL) reported on Thursday that the number of US citizens submitting new applications for unemployment insurance fell to 227K for the week ending July 5. The latest print fell short of initial estimates and the revised figure from the previous week, which stood at 232K after being adjusted from 233K.
The report indicated a seasonally adjusted insured unemployment rate of 1.3%. Additionally, the four-week moving average decreased by 5.750K, bringing it down to 235.5K from the revised average of the previous week.
Moreover, Continuing Jobless Claims rose by 10K to reach 1.965M for the week ending June 28.
Source: Fxstreet