Initial Jobless Claims Drop A Hair To 374k, Will Be Revised Upwards

The Department of Labor reports that initial jobless claims fell a few points this week.

In the week ending June 30, the advance figure for seasonally adjusted initial claims was 374,000, a decrease of 14,000 from the previous week’s revised figure of 388,000. The 4-week moving average was 385,750, a decrease of 1,500 from the previous week’s revised average of 387,250.

The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending June 23, unchanged from the prior week’s unrevised rate.

The advance number for seasonally adjusted insured unemployment during the week ending June 23 was 3,306,000, an increase of 4,000 from the preceding week’s revised level of 3,302,000. The 4-week moving average was 3,304,250, a decrease of 3,000 from the preceding week’s revised average of 3,307,250.

This is not news, the figures have barely moved, and will probably be revised upwards next week just like they are every week.