US Unemployment Claims Down for Fourth Straight Week to Fresh Pandemic Low

Source: US Labor Department

American jobless claims continued to decline for the fourth straight week, hitting the lowest level since the COVID-19 pandemic hit. DXY is up 0.30%, while Gold is down 0.31%.

• Seasonally adjusted initial claims for the week ending August 14 fell 29,000 to 348,000. This is the lowest since the level stood at 256,000 on March 14, 2020.
• The previous week’s level was revised 2,000 higher to 375,000 to 377,000.
• The four-week moving average declined by 19,000 to 377,750. This is the lowest since March 14, 2020’s 225,500.
• The advanced insured unemployment rate for the week ending August 7 was 2.1%, unchanged from the previous week.
• Insured unemployment fell 79,000 to 2.820 million individuals, the lowest since March 14, 2020’s 1.770 million.
• The biggest climbs in initial claims for the week were in Virginia, California, Maryland, Oregon, and Illinois.
• The largest declines were seen in Michigan, New York, Georgia, Indiana, and Missouri.