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The number of Americans filing for unemployment unexpectedly spiked to 419,000 last week

Jobless claims

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Initial jobless claims for the week ending July 17 came in at 419,000, far higher than the consensus expectation of 350,000, according to Bloomberg.

The unexpected spike in the number of Americans newly out of work from last week’s revised figure of 368,000 is another in a series of blips in a noisy but gradually declining measure.

While the number of Americans newly filing for unemployment benefits tends to bounce around from week to week, it’s been on a general downward trend after spiking to record-shattering numbers amid the early days of the pandemic last spring, details ⇒

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