US Weekly Initial Jobless Claims at 222,000 Last Week...Below Expectations

Over 1.852 Million Cases of Expected Underpayment Including Claims Over 2 Weeks

Last week, the number of new unemployment benefit claims in the United States came in below market expectations.

According to the U.S. Department of Labor on the 11th (local time), the number of new unemployment benefit claims for the week of June 30 to July 7 was recorded at 222,000. This is the lowest level since the end of May, falling short of both the expert forecast (236,000) and the revised figure for the previous week (239,000).

The number of continuing unemployment benefit claims, which counts those claiming benefits for at least two weeks, was 1,852,000 for the week of June 23 to 29. This also fell below both the market forecast (1,860,000) and the revised figure for the previous week (1,856,000). Continuing claims had increased for nine consecutive weeks through the week of June 16 to 22, reaching the highest level in 31 months, but the upward trend halted last week.