U.S. Unemployment Claims Climb by 7,000
(MENAFN) New data from the U.S. Labor Department released Thursday reveals that initial unemployment claims increased by 7,000 last week, reaching a total of 226,000. This figure surpassed analysts’ predictions of 221,000 and rose from the prior week's revised total of 219,000.
The four-week moving average saw a slight decline, falling 500 to 220,750 compared to the previous week's upwardly adjusted 221,250.
In July, the U.S. economy generated only 73,000 new jobs, significantly below the market's forecast of 106,000. Additionally, job growth figures for June and May were revised downward by a combined 258,000.
The unemployment rate edged up to 4.2% in July from 4.1% in June, aligning with market expectations.
All data cited is sourced directly from the Labor Department.
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