US Jobless Claims Decline

In a positive sign for the US economy, initial jobless claims decreased by 5,000 to 227,000 for the week ending July 5, as reported by the Department of Labor. This decline underscores the labor market's ongoing resilience amidst fluctuating economic conditions.

4-Week Moving Average Also Falls

The 4-week moving average, a more stable measure of jobless claims, also saw a decrease, dropping by 5,750 to 235,500. This suggests a steady improvement in employment trends over the past month.

Insured Unemployment Rate Holds Steady

Meanwhile, the insured unemployment rate remained unchanged at 1.3% for the week ending June 28. However, the total number of insured unemployed individuals slightly increased by 10,000, reaching 1,965,000. The 4-week moving average for insured unemployment also rose modestly by 3,500 to 1,955,250.