U.S. Jobless Claims Climb

@AFP
U.S. Jobless Claims Climb

WASHINGTON, District of Columbia (AFP) – More people filed new claims for U.S. unemployment insurance benefits last week as the jobs market slowly improves, government data released Thursday showed.

Initial jobless claims rose to 343,000 in the week ending July 20, an increase of 7,000 from the prior week’s upwardly revised 336,000 claims, the Labor Department reported.

Last week’s increase in claims, an indicator of the pace of layoffs, was larger than the 340,000 reading expected on average by analysts.

Analysts noted the weekly claims reporting was being affected by auto plant shutdowns for retooling that were not occurring in their normal fashion this year.

“Unemployment insurance claims have been see-sawing for the past four weeks or so as the Fourth of July holiday and annual shutdowns at auto manufacturing plants make it difficult to seasonally adjust the data,” said Marisa Di Natale of Moody’s Analytics.

Overall, claims were grinding lower. The four-week moving average, which smooths out weekly volatility, fell by 1,250 to 345,250.

Photo Credit: AFP/Justin Sullivan

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Mike Johnson
Speaker Mike Johnson

House Democratic leadership announced Tuesday that they’ll allow members to block any effort from Rep. Marjorie Taylor Greene (R-GA) and her tiny team of nihilists to oust Speaker Mike Johnson, a reminder of where the power sits in the House.

Keep reading...Show less
Trump Endorses Anti-Abortion Monitoring Of Pregnancy By States

Former President Donald Trump

Killing Abortion Ban Repeal

With little more than six months until Election Day, Donald Trump is preparing for an “authoritarian” presidency, and a massive, multi-million dollar operation called Project 2025, organized by The Heritage Foundation and headed by a former top Trump White House official, is proposing what it would like to be his agenda. In its 920-page policy manual the word “abortion” appears nearly 200 times.

Keep reading...Show less
{{ post.roar_specific_data.api_data.analytics }}