US Initial Jobless Claims Grew by 9K Last Week
Initial unemployment claims in the US increased more than expected last week, but remained near multidecade lows, offering evidence of the labor market’s strength. The US Labor Department reported, that initial jobless claims rose by 9.000 to a seasonally adjusted 217.000 in the week ended July 21. Analysts expected jobless claims to rise by 7.000 to 215.000 last week.
Meanwhile, continuing jobless claims fell to 1.745 million in the week ended July 14, from 1.753 million in the preceding week, compared to expectations for a decrease to 1.730 million. Today’s report underlined expectations that the Federal Reserve will hike interest rates two more times this year.