The U.S. labor market showed resilience, as the number of new unemployment benefit claims declined for the fifth consecutive week.
The U.S. Department of Labor announced on July 17 (local time) that the number of new unemployment benefit claims for the week of July 6 to 12 was 221,000, a decrease of 7,000 from the previous week. This figure is lower than the 234,000 projected by experts surveyed by Dow Jones.
New unemployment benefit claims in the United States have been declining for five consecutive weeks since mid-June. However, the number of continuing unemployment benefit claims, which refers to those claiming benefits for more than two weeks, increased by 2,000 to 1,956,000 for the week of June 29 to July 5 compared to the previous week.
Wall Street is closely monitoring employment market indicators to assess trends in the real economy. There have been concerns that the tariff policies of the Donald Trump administration could negatively impact the U.S. labor market.
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