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US initial jobless claims 385K vs 384K estimate

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Weekly US initial jobless claims and continuing claims

Initial jobless claims
  • Prior week 400K revised to 399K
  • initial jobless claims 385 versus 384K estimate
  • 4-week moving average initial jobless claims 394K vs 394.25 last week
  • continuing claims 2.930M. The prior week was revised up 27K to 3.296K
  • 4-week moving average continuing claims 3.188M vs 3.297M last week
  • The largest increases in initial claims for the week ending July 24 were in California (+8,010), Tennessee (+1,694),
    Michigan (+449), New Jersey (+420), and Florida (+140), 
  • The largest decreases were in Pennsylvania (-21,218),
    Texas (-11,154), Kentucky (-7,185), Illinois (-7,060), and Missouri (-5,351). 
  • For the full report, CLICK HERE

The US jobs report will be released tomorrow at 8:30 AM ET. The claims data from the survey week two weeks ago came in at 419K. That was higher than the previous month.  The ADP jobs estimate yesterday came in also weaker than expectations at 330K vs 695K.  

Last month the BLS nonfarm payroll number show job gains of 850K. The estimate for tomorrow is 870K.

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