US jobless claims took another turn to fall by 24,000 to a lower level of 400,000 in the week ending July 24.
- The fall in jobless claims happened after it made a 51,000 jump in the previous week, sending mixed signals of labor market recoveries. Previous week’s jobless claims were revised up by 5,000 to 424,000.
- The jobless claims on a four-week average edged higher by 8,000 to 394,500.
- Continuing claims rose by 7,000 to 3.269 million marking the lowest level since March 21, 2020.
- Under various state programs, jobless claims plunged by 16.2% from the previous week to 344,653. The claims under state programs had been anticipated to fall by a lower 10.2%.
Michigan, Texas, Kentucky, Missouri, and Illinois had the largest increases in jobless claims. The claims fell the highest in New York, Puerto Rico, Tennessee, Oklahoma, and Georgia.
DXY is down -0.27%, SPY is up +0.24% in the premarket.
Source: Department of Labor
