US Jobless Claims Unexpectedly Rise in Latest Week



The number of Americans filling for unemployment benefits increased by 3 thousand to 231 thousand in the week ending June 30 from the previous week's upwardly revised level of 228 thousand. It was the highest reading in six weeks while markets were expecting a drop to 225 thousand.

The 4-week moving average was 224,500, an increase of 2,250 from the previous week's revised average. The previous week's average was revised up by 250 from 222,000 to 222,250. 

According to unadjusted data, major increases in jobless claims were reported in Massachusetts (+4,738), New Jersey (+4,273) and Kentucky (+4,015) while the largest decreases were seen in California (-5,812), Pennsylvania (-3,969) and Maryland (-2,706). Claims were unchanged in Virgin Islands while fell in Puerto Rico (-322).

The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending June 23, unchanged from the previous week's unrevised rate. 

Continuing claims during the week ending June 23 were 1,739,000, an increase of 32,000 from the previous week's revised level. The previous week's level was revised up 2,000 from 1,705,000 to 1,707,000. Figures came above market expectations of 1,720,000. The 4-week moving average was 1,718,250, a decrease of 1,750 from the previous week's revised average. This is the lowest level for this average since December 8, 1973 when it was 1,715,500. The previous week's average was revised up by 500 from 1,719,500 to 1,720,000.


US Jobless Claims Unexpectedly Rise in Latest Week


DOL | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
7/5/2018 1:09:47 PM