Fewer Workers Claimed Unemployment Insurance Benefits
The Bureau of Labor Statistics released the weekly report on unemployment insurance claims. The unadjusted number of U.I. claims for the week ending July 25 decreased 13.3% to 507,464. The seasonally adjusted number increased 4.5%, however. The total number of workers claiming U.I. beneifts as of July 25 was roughly 6.1 million (not seasaonlly adjusted), a decrease of 196,289 from the previous week. The data suggest the U.S. labor market is slowly improving but the hiring rate remains low.
A Closer Look:
- States with largest increases in U.I. claims: California (+4,290), Michigan (+3,654), and Florida (+3,291).
- States with largest decreases in U.I. claims: New York (-22,052), Wisconsin (-6,791), Missouri (-6,529), and Pennsylvania (-6,420).
