U.S. Jobless Claims Report: Initial Claims Fall, Continuing Claims Rise

The latest data from the U.S. Department of Labor (DOL) released on Thursday showed a mixed picture of the labor market, with Initial Jobless Claims falling slightly, while Continuing Jobless Claims edged higher.

For the week ending July 12, the number of new applications for unemployment insurance dropped to 221,000, marking a decrease from the previous week’s revised figure of 228,000, which had initially been reported as 227,000. The latest reading was slightly below expectations.

The seasonally adjusted insured unemployment rate stood at 1.3%, reflecting the proportion of the workforce currently receiving unemployment benefits. Meanwhile, the four-week moving average for Initial Claims decreased by 6,250, bringing the total to 229,500, down from the previous week’s revised average.

On the other hand, Continuing Jobless Claims—which represent individuals who have been receiving unemployment benefits for an extended period—rose by 2,000 to 1.956 million for the week ending July 5. This increase suggests a modest rise in long-term unemployment claims.

While Initial Jobless Claims show a slight improvement, the uptick in Continuing Claims indicates that some individuals remain out of work for longer periods, suggesting a mixed outlook for the U.S. labor market in the near term.