Initial Claims Fall to Four-Month Low, Back Under 400K
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Data from the Labor Department Thursday suggests U.S. employers may be firing less people.
Applications for jobless insurance fell 7,000 to 395,000 last week, a four-month low. Economists on the Street had been expecting jobless claims of 405,000.
Last week's initial claims figure was revised slightly higher from 400,000 to 402,000.
The four-week moving average fell from 408,250 to 405,000. The number is a less-volatile measure of jobless claims.
Citizens continuing to receive jobless benefits fell 60,000 to 3.69 million, the sharpest decline since February 2011.
Those receiving extended benefits beyond the 99-week duration fell 16,000 to 3.7 million.
Forty-four states and territories reported a decrease in claims, while nine had an increase.
Initial claims tend to fall as job growth accelerates. July's nonfarm payroll number of 117,000 was below the 133,000 average so far this year. Planned firings increased 59 percent to 66,414, according to Bloomberg data.
Applications for jobless insurance fell 7,000 to 395,000 last week, a four-month low. Economists on the Street had been expecting jobless claims of 405,000.
Last week's initial claims figure was revised slightly higher from 400,000 to 402,000.
The four-week moving average fell from 408,250 to 405,000. The number is a less-volatile measure of jobless claims.
Citizens continuing to receive jobless benefits fell 60,000 to 3.69 million, the sharpest decline since February 2011.
Those receiving extended benefits beyond the 99-week duration fell 16,000 to 3.7 million.
Forty-four states and territories reported a decrease in claims, while nine had an increase.
Initial claims tend to fall as job growth accelerates. July's nonfarm payroll number of 117,000 was below the 133,000 average so far this year. Planned firings increased 59 percent to 66,414, according to Bloomberg data.
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