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US jobless claims drop to 187k, beating forecasts
Continuing claims edged down to 1.796m and the insured unemployment rate stayed at 1.2%, signaling labor conditions remain tight.
U.S. initial jobless claims fell by 22k to 187k for the week ended July 18, according to Action Forex, coming in below the 212k expected by analysts.
The prior week’s claims were revised slightly higher to 209k from 208k, and the four week moving average declined by 7.25k to 207.5k.
Action Forex also noted that continuing claims edged down by 2k to 1.796m for the week ended July 11, while the insured unemployment rate held steady at 1.2%.
The outlet said the improvement points to continued resilience in the labor market despite uncertainty around energy prices and global geopolitical tensions.