US Jobless Claims Down for Second Straight Week

Source: US Labor Department

American unemployment claims continued to drop to mark the second straight week the level was below 400,000. DXY is down 0.06%, gold is down 0.48%.

• Seasonally adjusted initial claims for the week ending July 30 fell 14,000 to 385,000.
• The previous week’s level was revised slightly lower to 400,000 from 399,000.
• The four-week moving average stood at 394,000, 250 lower than the previous week’s revised four-week average of 394,350.
• The insured unemployment rate for the week ending July 24 was 2.1%, 0.3 points lower than the previous week.
• Insured unemployment fell 366,000 to 2.930 million. This is the lowest since March 14, 2020’s 1.770 million.
• The largest increases were in California, Tennessee, Michigan, New Jersey, and Florida.
• The biggest jumps were in Pennsylvania, Texas, Kentucky, Illinois, and Missouri.