US jobless claims fell by 29,000 for the week that ended August 14, close to a pre-pandemic low of 348,000. The claims were below the expected 365,000.
- The jobless claims were at the lowest level since March 14, 2020. On a 4-week average, jobless claims fell by 19,000 to 377,750.
- Continuing claims fell by 79,000 to 2.82 million. The claims were the lowest since March 14, 2020, when it was 1.77 million.
- Total claims under state programs were 308,574, a fall of 4.5% from the previous week. The decline beat the expected increase of 4.6% from the previous week.
Jobless claims rose the highest in Virginia, California, Maryland, Oregon, and Illinois. The largest falls in claims were in Michigan, New York, Georgia, Indiana, and Missouri.
DJI sheds -0.34%, DXY gains +0.24%
Source: Department of Labor