Friday, July 1, 2022

U.S. Initial Jobless Claims Fall to 787,000 in Latest Week By Investing.com

-


© Reuters

By Noreen Burke

Investing.com — The number of Americans applying for initial unemployment benefits fell to  last week, but remained at levels indicating that the recovery in the labor market is losing momentum as the coronavirus pandemic lingers.

Economists had forecast a decline to 860,000. The prior week’s figure was revised down to 842,000 from an initially reported 898,000.

The number of continuing claims, which are reported with a one-week lag to initial claims, . The previous week’s figure was revised down to 9.397 million. Continuing claims are falling in part because many people have exhausted their eligibility for regular state benefits.

The Labor Department said that California had completed its pause in processing of initial claims and had resumed reporting reporting new claims as part of the national total. The report reflected the count for California for the current week and revisions to the two previous weeks. Earlier this month, the state said it needed to suspend data filings in order to reduce its claims processing backlog and implement fraud prevention technology.

The report came as talks in Washington over a economic stimulus deal dragged on amid doubts over whether the negotiations would continue or pause until after the Nov. 3 election.

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.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

FOLLOW US

0FansLike
3,373FollowersFollow
0SubscribersSubscribe
spot_img

Related Stories