Jobless Claims Rise Slightly to 373,000
Summary from the AllSides News Team
The number of Americans applying for first-time jobless claims rose to 373,000 last week - up slightly from 371,000 the week before.
Twenty-six states have already ended or will soon end the $300 per week in additional benefits, which should lead to a fall in unemployment claims in the weeks ahead. The benefits will run out in September for the remaining states.
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From the Center
U.S. Jobless Claims Edged Up to 373,000 Last Week
Jobless claims held nearly steady last week, interrupting a downward trend and showing the labor market’s recovery remains uneven, at a time when many states are discouraging workers from tapping jobless assistance.
Initial unemployment claims, a proxy for layoffs, rose by 2,000 last week to a seasonally adjusted 373,000, the Labor Department said Thursday. The previous week’s figure was revised up to 371,000. The four-week moving average, which smooths out volatility in the weekly figures, was 394,500, the lowest reading since March 2020.
The recent level of new claims is well...
From the Right
Initial jobless claims unexpectedly rise off pandemic lows
The number of Americans filing for first-time unemployment benefits last week unexpectedly rose off the lowest levels since the outbreak of the COVID-19 pandemic.
Data released Thursday by the Labor Department showed 373,000 Americans filed for first-time jobless benefits in the week ended July 3, up from an upwardly revised 371,000 filings the week prior. Analysts surveyed by Refinitiv expected a decline to 350,000 filings.
Despite last week's small increase the number of initial jobless claims have been more than halved this year after reaching a peak of 904,000 in January. Almost 6 million...
From the Left
US jobless claims tick up to 373,000 from a pandemic low
The number of Americans filing for unemployment benefits rose slightly last week even while the economy and the job market appear to be rebounding from the coronavirus recession with sustained energy.
Thursday's report from the Labor Department showed that jobless claims increased by 2,000 from the previous week to 373,000. Weekly applications, which generally track the pace of layoffs, have fallen steadily this year from more than 900,000 at the start of the year. The four-week average of applications, which smooths out week-to-week volatility, is now 394,500 — the lowest such level...
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