U.S. Weekly Jobless Claims Declined – in the Week Ending 6th July 2024

The U.S. Department of Labor reported on Wednesday (7-11-24), its advance figure for seasonally adjusted initial unemployment claims made during the week ending Saturday, July 6, 2024, was 222,000, a decrease of 17,000 from the previous week’s upwardly revised level of 239,000, originally reported as 238,000. The 4-week moving average was 233,500, a decrease of 5,250 from the previous week’s upwardly revised average of 238,750, originally reported as 238,500.

The advance number for seasonally adjusted insured unemployment, known as continuing claims during the week ending June 29, 2024, was 1,852,000, a decrease of 4,000 from the previous week’s downwardly revised total of 1,856,000, originally reported as 1,858,000. The 4-week moving average was 1,840,250, an increase of 9,750 from the previous week’s downwardly revised level of 1,830,500 originally reported as 1,831,000. This is the highest level since December 4, 2021, when it was 1,859,750.

The advanced seasonally adjusted insured unemployment rate was 1.2% for the week ending June 29, unchanged from the previous week’s unrevised rate.