US Jobless Claims Rise More than Expected
The number of Americans filling for unemployment benefits rose by 9 thousand to 217 thousand in the week ending in July 21 from the previous week's upwardly revised level of 208 thousand. It was the highest reading since the week ending in June 30, and above market expectations of 215 thousand. The previous week was revised up by 1,000 from 207,000 to 208,000.
The 4-week moving average was 218,000, a decrease of 2,750 from the previous week's revised average. The previous week's average was revised up by 250 from 220,500 to 220,750.
According to unadjusted data, the biggest gains in claims were recorded in Michigan (3,583), Kentucky (+2,593), Missouri (+958), Kansas (+320) and District of Columbia (+54) while the largest decreases were seen in New York (-8,257), Georgia (-3,954), Alabama (-3,551), Pennsylvania (-2,366) and Oregon (-1,892). Claims declined in Puerto Rico (-50) while increased in Virgin Islands (+1).
The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending July 14, unchanged from the previous week's unrevised rate.
Continuing claims during the week ending July 14 were 1,745,000, a decrease of 8,000 from the previous week's revised level. The previous week's level was revised up 2,000 from 1,751,000 to 1,753,000. Figures came above market consensus of 1,730,000. The 4-week moving average was 1,745,750, an increase of 9,500 from the previous week's revised average. The previous week's average was revised up by 500 from 1,735,750 to 1,736,250.
7/26/2018 1:08:00 PM