US weekly jobless claims rise slightly to 209,000
US initial jobless claims edged higher in the week ended Aug. 8, implying a broadly stable labor market despite a weak July employment report.
Initial claims came in at 209,000, above expectations of 202,000 and up from 200,000 in the previous week, which was revised higher by 1,000, according to the US Department of Labor’s weekly report.
Weekly jobless claims are a proxy for layoffs in the US and provide a near-real-time indication of labor-market conditions.
The increase may reflect normal seasonal volatility during the summer, when seasonal hiring patterns typically affect the data.
US weekly jobless claims |
||||
|
Item |
Year ago |
Previous |
Current |
Change |
|
Initial claims (‘000) |
224.0 |
200.0 |
209.0 |
9 |
|
4-week moving average (‘000) |
221.75 |
199.00 |
199.00 |
-- |
|
Insured unemployment (mln) |
1.942 |
1.799 |
1.777 |
(0.022) |
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