US Unemployment Claims 365,000 up 8,000 from previous week

First-time claims for unemployment benefits rose slightly last week.
About 365,000 people filed jobless claims in the week ended July 28, up 8,000 from the previous week, the Bureau of Labor Statistics said Thursday.

Jobless claims are closely correlated with layoffs and are seen as a key gauge of the strength of the job market.
It’s unclear whether last week’s slight rise is a negative sign for the job market, given initial claims have been more volatile than usual lately. Economists often prefer to look at a four-week moving average to smooth out the volatility, and this measure has been falling.

Jobless claims are closely correlated with layoffs and are seen as a key gauge of the strength of the job market.
It’s unclear whether last week’s slight rise is a negative sign for the job market, given initial claims have been more volatile than usual lately. Economists often prefer to look at a four-week moving average to smooth out the volatility, and this measure has been falling.

via CNN

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.