US Weekly Jobless Claims Decline in the Week Ending July 8th

The US Department of Labor reported on Thursday (7-13-23) that the advance figure for seasonally adjusted initial unemployment claims was 237,000 during the week ending on Saturday, July 8th. This is a decrease of 12,000 from the previous week’s revised level of 249,000 (originally reported as 248,000). The 4-week moving average was 246,750—a decrease of 6,750 from the previous week’s revised level of 253,500 (originally reported as 253,250).

The advance number for seasonally adjusted insured unemployment, known as continuing claims, during the week ending July 1st was 1,729,000. This is an increase of 11,000 from the previous week’s revised level of 1,718,000 (originally reported as 1,720,000). The 4-week moving average was 1,735,250—a decrease of 10,750 from the previous week’s revised level of 1,746,000 (originally reported as 1,746,500).

The advance seasonally adjusted insured unemployment rate was 1.2% for the week ending July 1st, unchanged from the previous week’s unrevised rate.