U.S. Initial Jobless Claims Post Larger-Than-Expected Decline

0
22
imageEconomic Indicators2 hours ago (Jul 01, 2021 13:38)

2/2
© Bloomberg. An employee coats bicycle frames with powder paint at a production facility in Manning, South Carolina. Photographer: Micah Green/Bloomberg

2/2

(Bloomberg) — Applications for U.S. state unemployment insurance fell last week by more than projected, reaching a fresh pandemic low and suggesting that dismissals are abating as the economy reopens and labor demand rises.

Initial claims in regular state programs decreased by 51,000 to 364,000 in the week ended June 26, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for 388,000 initial applications.

Continuing claims for ongoing state benefits increased to 3.47 million the week ended June 19.

The drop in applications is consistent with improving business conditions and companies’ efforts to increase headcounts to meet demand as the economy reopens. Still, initial claims remain above pre-pandemic levels and many employers say they are having trouble finding qualified workers, which is likely holding back the pace of the recovery.

©2021 Bloomberg L.P.

U.S. Initial Jobless Claims Post Larger-Than-Expected Decline

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

LEAVE A REPLY

Please enter your comment!
Please enter your name here