07.08.202512:36:31UTC+00US Initial Claims Rise More than Expected

In the final week of July, the United States saw an uptick in initial jobless claims, which rose by 7,000 from the previous week to reach 226,000. This figure surpassed market predictions, which anticipated a smaller increase to 221,000. Concurrently, continuing jobless claims jumped by 38,000 to a total of 1,974,000, significantly exceeding market expectations of 1,950,000. This marks the highest unemployment level since November 2021, reinforcing perceptions of a notable hiring slowdown and a softening labor market. Despite this, initial claims still remain below the higher levels observed in early June. Additionally, initial claims filed by federal government employees, a category closely monitored following recent terminations by the Department of Government Efficiency (DOGE), decreased by 14 from the previous four-month peak to 708, marking the highest point in four months.