9:21 am Initial Claims Remain Near 300,000 for a Fourth Consecutive Wee
The initial claims level increased to 302,000 for the week ending July 26 from a downwardly revised 279,000 (from 284,000) for the week ending July 19. The Briefing.com consensus expected the initial claims level to increase to 310,000.
Claims have fallen into a new lower range of around 300,000. This implies an improvement in labor market conditions and monthly payroll growth near 300,000.
There is some concern, however, that the decline in claims is a result of poor seasonal adjustments surrounding the …More