US Jobless Claims Drops 24,000 To 400,000 As Economy Rebounds

Source: US Department of Labor.

Weekly jobless claims decreased by 24,000 to 400,000 from the upwardly revised 424,000 in the previous period. DJI down -0.36%, EURUSD up +0.31%

• The seasonally adjusted insured employment rate remained unchanged from previous week’s unrevised rate at 2.4%.  
• The advanced number of insured unemployment rate for the week ended July 17 was 3,369,000, a 7,000 increase from previous week’s revised level.
• Total of those receiving benefits under all government programs increased to 13,156,252, a 582,403 increase from the previous week. 
• Weekly claims filed for benefits in all programs was 31,898,353 compared to a similar period in 2020.
• Among states, Michigan saw the biggest gain in initial claims of 13,547, with New York recording the largest decrease in initial claims of 10,727.
• In case of continued weekly claims, 47 states reported 5,246,162 continued weekly claims for Pandemic Unemployment Assistance benefits, while 46 states reported 4,233,883 continued claims for compensation benefits.