Continued Unemployment Benefit Claims Reach 1.955 Million,
Below Market Expectations
Last week, the number of new unemployment benefit claims in the United States fell below market expectations and continued to decline for the sixth consecutive week, reaffirming the resilience of the labor market.
According to the US Department of Labor on July 24 (local time), the number of new unemployment benefit claims for the week of July 13 to 19 was recorded at 217,000.
This is the lowest level since mid-April, down by 4,000 from the previous week’s 221,000, and also below the expert forecast of 227,000.
With this, new unemployment benefit claims have decreased for six consecutive weeks, marking the longest downward trend since 2022.
The number of continuing unemployment benefit claims, which counts those claiming benefits for more than two weeks, was 1,955,000 for the week of July 6 to 12. This is an increase of 4,000 from the previous week’s 1,951,000, but 5,000 lower than the market expectation of 1,960,000.
As the possibility of an economic slowdown has been raised due to President Donald Trump’s aggressive tariff policies, Wall Street is paying close attention to employment indicators along with inflation.
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