US | Initial Jobless Claims

Initial jobless claims for regular state benefits rose back above 1 million last week, increasing 135,000 to 1.106 million. The data suggest that the recent decline in claims may have been partly due to supplemental benefits expiring – and the increase might reflect their partial restoration.

What you will learn:

Continuing claims for regular state benefits, which lag initial claims by a week, continued their decline, falling 636,000 to 14.844 million, their lowest level since early April.
Factoring in individuals receiving emergency federal benefits provided by the CARES Act – either PUA or PEUC benefits – more than 30 million individuals were receiving some type of benefits in the week ended August 1.

Topics: United States, Earnings, Labour markets, Coronavirus, Macro Highlights, Market Highlights, North America