Weekly jobless claims fall to 233,000, less than expected, in a positive sign for labor market [View all]

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Source: CNBC

Published Thu, Aug 8 2024 8:32 AM EDT Updated 3 Min Ago


Initial claims for unemployment insurance totaled less than expected last week, countering other signs that the labor market is weakening. First-time filings for jobless benefits totaled a seasonally adjusted 233,000 for the week, a decline of 17,000 from the previous week’s upwardly revised level and lower than the Dow Jones estimate for 240,000, the Labor Department said Thursday.

The report comes with Wall Street on edge amid signs that job growth is slowing and even signaling a potential recession on the horizon. Stock market futures, which had been negative earlier, turned sharply positive following the 8:30 a.m. ET release while Treasury yields held higher.

While the top-line number helped allay some fears, the level of continuing claims, which run a week behind, edged higher to 1.875 million, the highest since Nov. 27, 2021.

Jobless claims have been trending higher for much of the year, though still remain relatively tame. The recent uptick has been attributed to disruptions from Hurricane Beryl as well as summer shutdowns in auto plants.

Read more: https://www.cnbc.com/2024/08/08/weekly-jobless-claims-fall-to-233000-less-than-expected-in-a-positive-sign-for-labor-market.html

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Unemployment Insurance Weekly Claims

Initial claims were 233,000 for the week ending 8/3 (-17,000).

Insured unemployment was 1,875,000 for the week ending 7/27 (+6,000).

https://dol.gov/ui/data.pdf
Unemployment Insurance Weekly Claims. DOL.gov
8:31 AM · Aug 8, 2024

Article updated.

Previous article -

Published Thu, Aug 8 2024 8:32 AM EDT Updated 3 Min Ago


Initial claims for unemployment insurance were less than expected last week, countering other signs that the labor market is weakening.

First-time filings for jobless benefits totaled 233,000 for the week, a decline of 17,000 from the previous week and lower than the Dow Jones estimate for 240,000, the Labor Department reported Thursday.

This is breaking news. Please check back for updates.

Original article -

Published Thu, Aug 8 2024 8:32 AM EDT


Initial claims for unemployment insurance were expected to total 240,000 for the week ending Aug. 3, according to economists surveyed by Dow Jones.


This is breaking news. Please check back for updates.