The number of new unemployment insurance claims in the United States is expected to have improved marginally last week, with initial jobless claims for the week ended August 1 expected at 1.4 million.
That’s down from the 1.434 million who applied during the previous week, and would represent the 20th straight week that new claims topped a million. Continuing claims (for the week ending July 25) could be down from last week’s 17.018 million to 16.9 million.
New jobless claims in last week’s report rose for a second straight week, after what had been 15 consecutive weeks of declines previously. Statistics showed that more than 54 million people filed new unemployment insurance claims since the week ending March 20.
“Initial claims have remained stubbornly high, and the number of individuals receiving unemployment insurance has barely declined from its peak,” said Credit Suisse Chief Economist James Sweeney, as cited by Yahoo Finance.
I just got a text message from Jerome Powell, he said no problem.
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