US initial jobless claims edged higher in the week ended Aug. 8, implying a broadly stable labor market despite a weak July employment report.
Initial claims came in at 209,000, above expectations of 202,000 and up from 200,000 in the previous week, which was revised higher by 1,000, according to the US Department of Labor’s weekly report.
Weekly jobless claims are a proxy for layoffs in the US and provide a near-real-time indication of labor-market conditions.
The increase may reflect normal seasonal volatility during the summer, when seasonal hiring patterns typically affect the data.
US weekly jobless claims
Item
Year ago
Previous
Current
Change
Initial claims (‘000)
224.0
200.0
209.0
9
4-week moving average (‘000)
221.75
199.00
199.00
—
Insured unemployment (mln)
1.942
1.799
1.777
(0.022)
US initial jobless claims edged higher in the week ended Aug. 8, implying a broadly stable labor market despite a weak July employment report.
Initial claims came in at 209,000, above expectations of 202,000 and up from 200,000 in the previous week, which was revised higher by 1,000, according to the US Department of Labor’s weekly report.
Weekly jobless claims are a proxy for layoffs in the US and provide a near-real-time indication of labor-market conditions.
The increase may reflect normal seasonal volatility during the summer, when seasonal hiring patterns typically affect the data.
US weekly jobless claims
Item
Year ago
Previous
Current
Change
Initial claims (‘000)
224.0
200.0
209.0
9
4-week moving average (‘000)
221.75
199.00
199.00
—
Insured unemployment (mln)
1.942
1.799
1.777
(0.022)
