Jobless Claims Fall to the Lowest Level Since 1973

Jobless Claims Fall to the Lowest Level Since 1973

“In the week ending July 18, the advance figure for seasonally adjusted initial claims was 255,000, a decrease of 26,000 from the previous week’s unrevised level of 281,000. This is the lowest level for initial claims since November 24, 1973 when it was 233,000.  The 4-week moving average was 278,500, a decrease of 4,000 from the previous week’s unrevised average of 282,500.

There were no special factors impacting this week’s initial claims.

The advance seasonally adjusted insured unemployment rate was 1.6 percent for the week ending July 11, unchanged from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending July 11 was 2,207,000, a decrease of 9,000 from the previous week’s revised level. The previous week’s level was revised up 1,000 from 2,215,000 to 2,216,000. The 4-week moving average was 2,253,750, a decrease of 10,500 from the previous week’s revised average. The previous week’s average was revised up by 250 from 2,264,000 to 2,264,250.  Department of Labor“