7/23/2020, 2:30 PM (Source: TeleTrader)
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US initial jobless claims up by 109K to 1.4M

The number of initial jobless claims in the United States for the week ending July 17 increased by 109,000 compared to the previous week's revised figure to land at 1,416,000, US Labor Department reported on Thursday, as the number came in higher than expected.

The four-week moving average amounted to 1,360,250, a fall of 16,500 from the previous week's revised average.

The advance seasonally adjusted insured unemployment rate stood at 11.1% for the week ending July 11, declining by 0.7 percentage points compared to the previous week's revised rate. Insured unemployment during the same week dropped by 1,107,000 to 16,197,000. The four-week moving average landed at 17,505,250, decreasing by 758,500 compared to the week prior.

Breaking the News / VP