American Unemployment Claims Climb More Than Expected to Hit Two-Month High

Source: US Labor Department

US jobless claims climbed more than expected in the past week, hitting the highest level in two months. DXY is down 0.15%, while Gold is down 0.03%.

• Seasonally adjusted initial claims increased by 51,000 to 419,000 in the week ending July 17. This is above the 350,000 expected, and the highest since May 15’s 444,000.
• The previous week’s level was revised upward to 368,000 from the earlier announced 360,000.
• The four-week moving average increased by 750 to 385,250 versus the previous week’s revised average of 384,500.
• The advance seasonally adjusted insured unemployment rate for the week ending July 10 was 2.4%, unchanged from the previous week. 
• Insured unemployment for the same week was down by 29,000 to 3.236 million. This is the lowest since March 21, 2020’s 3.094 million.
• The biggest climbs were seen in Texas, New York, Pennsylvania, Tennessee, and Missouri.
• The steepest declines were in Georgia, Rhode Island, Puerto Rico, Kentucky, and Maryland.