US Jobless Claims Fall for Second Week in a Row

The number of Americans filing new claims for unemployment benefits fell for a second straight week last week, pointing to a steady pace of job gains.

Initial claims for state unemployment benefits slipped 5,000 to a seasonally adjusted 343,000, the Labor Department said on Wednesday. Claims for the prior week were revised to show 2,000 more applications received than previously reported.

Economists polled by Reuters had expected first-time applications to fall slightly to 345,000 last week.

The four-week moving average of new claims, which is considered a better measure of labor market conditions, dipped 750 to 345,500.

A Labor Department analyst said no states had been estimated and there was nothing unusual in the state-level data. After making progress early in the year, claims have not changed much over the past months.

Last week’s claims data has no bearing on the government’s closely watched employment report for June as it falls outside the survey period. The report will be released on Friday.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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