The number of initial jobless claims in the US fell below 200,000 for the week ended July 18, marking the lowest level since 1969. This suggests that recent job-cut announcements have not yet translated into actual widespread layoffs.
The figure was expected to rise to 212,000, compared to the previous week’s data, which was upwardly revised by 1,000 to 209,000, according to the Department of Labor report released on Thursday.
Weekly jobless claims serve as a proxy for US layoffs and provide a near real-time indicator of labor market conditions.
US Weekly Jobless Claims
Item
Last Year
Last Week
Latest Week
Change
Initial Claims (‘000)
218
209
187
(22)
Four-Week Average (‘000)
224.5
214.75
207.5
(7.25)
Total Beneficiaries (mln)
1.941
1.798
1.796
(0.002)
The number of initial jobless claims in the US fell below 200,000 for the week ended July 18, marking the lowest level since 1969. This suggests that recent job-cut announcements have not yet translated into actual widespread layoffs.
The figure was expected to rise to 212,000, compared to the previous week’s data, which was upwardly revised by 1,000 to 209,000, according to the Department of Labor report released on Thursday.
Weekly jobless claims serve as a proxy for US layoffs and provide a near real-time indicator of labor market conditions.
US Weekly Jobless Claims
Item
Last Year
Last Week
Latest Week
Change
Initial Claims (‘000)
218
209
187
(22)
Four-Week Average (‘000)
224.5
214.75
207.5
(7.25)
Total Beneficiaries (mln)
1.941
1.798
1.796
(0.002)
