US New Unemployment Claims Decrease by 17,000... Largest Drop in a Year

Continued Unemployment Benefit Claims Reach 1.875 Million, 'Exceeding Expectations'

Last week, the number of new unemployment benefit claims in the United States decreased by 17,000 compared to the previous week, marking the largest decline in about a year.

According to the U.S. Department of Labor on the 8th (local time), the number of new unemployment benefit claims for the week of July 28 to August 3 was recorded at 233,000.

This figure was below both the expert forecast (241,000) and the revised figure for the previous week (250,000). In particular, the decrease of 17,000 claims compared to the previous week was the largest drop in a year. This suggests a possibility of some easing in concerns over the rapid cooling of the labor market, which spread quickly after the U.S. Department of Labor's July employment report released on the 2nd.

The number of continuing unemployment benefit claims, which counts those claiming benefits for at least two consecutive weeks, was recorded at 1,875,000 for the week of July 21 to 27. This exceeded both the market forecast (1,870,000) and the revised figure for the previous week (1,869,000).

The number of unemployment benefit claims can fluctuate significantly on a weekly basis due to factors such as school closures during summer vacation and reorganization of automobile factories.