Initial jobless claims fell another 10,000 to a seasonally adjusted 206,000 for the week ending July 20, indicating a very tight and strong labor market. The 4-week moving average was 213,000, a decrease of 5,750.
|Prior||Consensus Forecast||Forecast Range||Result|
|Initial Jobless Claims||216 K||219 K||210 K to 223 K||206 K|
The Labor Department said no state was triggered “on” the Extended Benefits program during the week ending July 6.
The advance seasonally adjusted insured unemployment rate was unchanged at a very low 1.2% for the week ending July 13.
The advance number for seasonally adjusted insured unemployment during the week ending July 13 declined by 13,000 to 1,676,000. The 4-week moving average was 1,697,250, a decrease of 4,500.
The highest insured unemployment rates in the week ending July 6 were in New Jersey (2.5), Puerto Rico (2.4), Connecticut (2.2), Pennsylvania (2.0), Rhode Island (2.0), California (1.8), Alaska (1.7), Massachusetts (1.7), Illinois (1.5), New York (1.5), and Oregon (1.5).
The largest increases in initial claims for the week ending July 13 were in Texas (+4,546), California (+3,867), Georgia (+3,831), Alabama (+1,930), and Pennsylvania (+1,744), while the largest decreases were in Michigan (-5,561), New Jersey (-3,702), Illinois (-1,888), Arkansas (-1,181), and Massachusetts (-842).