Big jump in continuing jobless claims ... new cycle high https://t.co/Mn2vOVTtTk
"No hire, no fire" labor market continues.... tame initial claims but continuing claims new cycle highs https://t.co/KJqp9kMhKR
US Initial Jobless Claims (W/W) 2-Aug: 220.75K (est 222K; prev 218K; prevR 219K) - Continuing Claims (W/W) 26-Jul: 1.974M (est 1.950M; prev 1.946M; prev R 1.936M)
Filings for US state unemployment benefits edged higher last week, with initial jobless claims rising to 226,000 in the period ended Aug. 2, according to Labor Department data released Thursday. The figure topped the median forecast of 222,000 and compared with 218,000 the prior week. The number of people already collecting unemployment insurance climbed to 1.974 million in the week ended July 26, exceeding the consensus projection of 1.950 million and marking the highest level since November 2021. The increase in continuing claims suggests more Americans are remaining on jobless rolls after initially applying for benefits.
