Summary List Placement

Initial unemployment claims came in at 360,000 for the week ending July 10, below the previous week’s revised read of 386,000. That reading matched the consensus forecast among economists, according to Bloomberg. 

The decline in the seasonally adjusted number resumes the overall downward trend of the volatile data series after an unexpected rise in initial claims last week. The Labor Department noted that this marks a new pandemic-era low.

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 details ⇒

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