US weekly jobless claims fall to two-month low

Posted on AllSides July 20th, 2023
From The Center
REUTERS/Andrew Kelly/File Photo

The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, touching the lowest level in two months amid ongoing labor market tightness and defying efforts by the Federal Reserve to slow demand.

Initial claims for state unemployment benefits dropped 9,000 to a seasonally adjusted 228,000 for the week ended July 15, the lowest level since mid-May, the Labor Department said on Thursday. Economists polled by Reuters had forecast 242,000 claims for the latest week.

"The claims data show that the labor market remains resilient and businesses...

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