Weekly Unemployment Claims in the U.S.
The number of Americans filing for unemployment benefits fell more than expected last week, indicating layoffs are not surging. Stocks reacted positively to the news, despite recent pressure. Continuing claims rose slightly. This is the largest number of people on unemployment since November 2021.
Key Points
- Initial claims decreased by 17,000 to 233,000
- Continuing claims rose by 6,000 to 1.875 million
- Stocks reacted positively to the news
Pros
- Decrease in initial unemployment claims
- Positive reaction in equities futures market
Cons
- Continuing claims rose slightly
- Weaker job growth reported in July