Lower Jobless Claims. Let’s repeat that. There are LESS people applying for Jobless Claims. The 334 thousand announced today was a 2 Month low for Initial Jobless Claims. There were some seasonal adjustments due to the 4th of July Holiday, but still this is good news for the economy. The four-week moving average, a less volatile measure than the weekly figures, fell to 346,000 last week from 351,250.
The number of people continuing to receive jobless benefits climbed by 91,000 to 3.11 million in the week ended July 6, the most in five months. That caused the unemployment rate among people eligible for benefits to rise to 2.4 percent, the highest since early April, from 2.3 percent. The continuing claims figure does not include the number of Americans receiving extended benefits under federal programs. Those who’ve used up their traditional benefits and are now collecting emergency and extended payments fell by about 24,200 to 1.64 million in the week ended June 29.
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury