US Initial Jobless Claims Decline in Week Ending July 12, Marking Fifth Straight Drop

On Thursday, the US Department of Labor reported that the advance figure for seasonally adjusted initial unemployment claims was 221,000 during the week ending Saturday, July 12. This is a decrease of 7,000 from the previous week’s revised total of 228,000 (originally 227,000). The four-week moving average was 229,500—a decrease of 6,250 from the previous week’s revised average of 235,750 (originally 235,500).

The advance number for seasonally adjusted insured unemployment during the week ending July 5 was 1,956,000, an increase of 2,000 from the previous week’s revised total of 1,954,000 (originally 1,965,000). The four-week moving average was 1,957,500—an increase of 4,750 from the previous week’s revised average of 1,952,750 (originally 1,955,250). This is the highest level for this average since November 20, 2021, when it was 2,004,250.

The advance seasonally adjusted insured unemployment rate was 1.3% for the week ending July 5, unchanged from the previous week’s unrevised rate.