Weekly Initial Jobless Claims rise to 251K

There were 251,000 initial jobless claims in the week ending July 16, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 244,000 and came in worse than the market expectation of 240,000.

Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1% and the 4-week moving average was 240,500, an increase of 4,500 from the previous week’s revised average.