Washington: The number of Americans filing first-time unemployment claims increased by 7,000 last week, reaching a total of 226,000. This data was released by the Labor Department on Thursday.
According to Anadolu Agency, the latest figure surpassed market forecasts, which had predicted 221,000 claims. The previous week's level was revised upward to 219,000. The four-week moving average, which provides a more stable picture of labor market trends, decreased by 500 to 220,750 from the previous week's revised average of 221,250.
In related employment figures, the US economy added 73,000 jobs in July, falling short of market expectations of 106,000. Furthermore, job additions for June and May were revised downward by a combined total of 258,000. The unemployment rate rose slightly to 4.2% in July, up from 4.1% in June, aligning with market forecasts.