Initial Unemployment Claims Hit New Pandemic Low

The initial jobless report for the week ending July 10 included 26,000 fewer unemployment insurance claims on a month-over-month basis for a total of 360,000.

This is the lowest level for initial claims since March 2020, when the figure was 256,000, according to a U.S. Department of Labor report

The uninsured employment rate did not move from the previous week, remaining at 2.4%.

White House Press Secretary Jen Psaki said the report highlighted the Biden administration’s efforts to lower the unemployment rate, tweeting that the president’s economic plan is “working.”

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: GovernmentEconomicsDepartment of Labor
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!