US Jobless Claims Rise at Faster Pace

The number of Americans filling for unemployment benefits was 1.42 million in the week ended July 18th, after 1.3 million in the previous period, bringing total claims to near 52.7 million since March 21st when the coronavirus pandemic started in the US. Today’s reading came in above market expectations of 1.3 million and might be a sign that the labour market recovery may take much more time than initially expected.

Continuing claims, which lags initial jobless claims data by one week, reach 16.197 million, while analysts expected a drop to 17.067 million.

US initial jobless claims rise for the first time since March. Source: Bloomberg

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US Jobless Claims Rise at Faster Pace

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