American Jobless Claims Slightly Up to 373,000

Source: US Labor Department

US unemployment claims posted a slight increase, following the fresh pandemic-low recorded in the previous week. DXY is down 0.41%, XAU is up 0.06%.

• Seasonally adjusted unemployment claims for the week ending July 3 grew by 2,000 to 373,000.
• The previous week’s level was revised 7,000 higher to 371,000, the lowest since the COVID-19 pandemic hit in March 2020.
• The four-week moving average declined 250 to 394,500. This is the lowest since March 14, 2020’s 225,500.
• The advance adjusted insured unemployment rate for the week ending June 26 decreased by 0.1 percentage point to 2.4% from the previous week’s unrevised rate.
• Insured unemployment for the week fell 145,000 to 3.339 million. This is the lowest since it stood at 3.094 million on March 21, 2020.
• The largest claim increases were seen in Puerto Rico, New Jersey, Massachusetts, New York, and Connecticut.
• The biggest drops were recorded in Pennsylvania, Kentucky, California, Texas, and Michigan.