US Unemployment Claims Fall to Fresh Pandemic-Low

Source: US Labor Department

American unemployment claims returned below the 400,000 level to mark a fresh pandemic low. DXY is down 0.03%, while GOLD is up 0.41%.

• Seasonally adjusted initial claims for the week ending June 26 declined by 51,000 to 364,000. This is the lowest since claims stood at 256,000 on March 14, 2020.
• The previous week’s level was revised 4,000 higher to 415,000 from 411,000.
• The four-week moving average fell by 6,000 to 392,750. This is the lowest level since March 14, 2020’s 225,500.
• The advance insured unemployment rate for the week ending June 19 was unchanged at 2.5%.
• Insured unemployment came in at 3.469 million, up 56,000 from the previous week’s 3.413 million.
• The largest increases were recorded in Pennsylvania, Michigan, and Texas.
• The biggest declines were in Illinois, California, Ohio, Florida, and Georgia.