27-July-2024
Economy News
 
US Weekly Jobless Claims Fall More Than Expected
26-Jul-2024

The number of Americans filing new applications for unemployment benefits fell more than expected last week as distortions from the weather and temporary automobile plant closures faded. Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 235,000 for the week ended July 20, the Labor Department said on Thursday. Economists polled by Reuters had forecast 238,000 claims for the latest week. Claims had increased in the prior week to the upper end of their 194,000-245,000 range for this year, lifted by a surge in applications in Texas related to disruptions from Hurricane Beryl. Temporary automobile plant closures for retooling also contributed to the rise.

News Source:- https://money.usnews.com/investing/news/articles/2024-07-25/us-weekly-jobless-claims-fall-more-than-expected