Jobless Claims Fall Even Lower to Only 209K, Beating Forecasts

The Labor Department said initial jobless claims fell again to a seasonally adjusted 209,000 for the week ending August 3, a decline of 8,000 that beat the forecasts. The 4-week moving average rose slightly by 250 to 212,250.

The advance seasonally adjusted insured unemployment rate was unchanged at a very low 1.2% for the week ending July 27. The advance number for seasonally adjusted insured unemployment declined by 15,000 during the week ending July 27 to 1,684,000.

The 4-week moving average was 1,687,250, a drop of 11,000 from 1,698,250.

The Labor Department said no state was triggered “on” the Extended Benefits program during the week ending July 20.

The highest insured unemployment rates in the week ending July 20 were in Puerto Rico (2.5), New Jersey (2.4), Connecticut (2.2), Pennsylvania (2.0), Rhode Island (1.9), California (1.8), Alaska (1.6), Massachusetts (1.6), Illinois (1.5), and the Virgin Islands (1.5).

The largest increases in initial claims for the week ending July 27 were in Illinois (+2,369), Iowa (+545), Maine (+72), Vermont (+27), and New Hampshire (+17), while the largest decreases were in Michigan (-4,429), Kentucky (-3,346), Georgia (-1,832), Pennsylvania (-1,347), and California (-903).