American Unemployment Claims Fall to 16-Month Low

Source: US Labor Department

US jobless claims fell to the lowest level since the COVID-19 pandemic first hit in March 2020. DXY is up 0.13%, Gold is down 0.18%.

• Seasonally adjusted claimed for the week ending July 10 fell 26,000 to 360,000. This is the lowest level since it stood at 256,000 on March 14, 2020.
• The previous week’s level was hiked by 13,000 to 386,000 from 373,000.
• The four-week moving average fell by 14,500 to 382,500. This is the lowest since the average stood at 225,500 on March 14, 2020.
• The advance seasonally adjusted insured unemployment rate for the week ending July 3 was 2.4%, unchanged from the previous week.
• Insured unemployment came in at 3.241 million, down by 126,000 from the previous week. This is the lowest since March 21, 2020’s 3.094 million.
• The biggest increases in initial claims were in Puerto Rico, Pennsylvania, New York, Texas, and California.
• The largest declines were seen in Oklahoma, Massachusetts, Washington,  Connecticut, and Virginia.