Jobless Claims Fall, Easing Concerns of Labor Market Weakness and Recession Fears

Jobless Claims Fall, Easing Concerns of Labor Market Weakness and Recession Fears

Initial unemployment insurance claims totaled 233,000 for the week, lower than estimates and a decline from the previous week's revised level. Continuing claims increased, with disruptions from Hurricane Beryl and summer auto plant shutdowns attributed to the rise. The four-week average of initial claims rose to the highest in nearly a year. Stock futures turned positive on the data after being negative earlier in the session. Treasury yields also held higher.


User: Benzinga

Views: 196

Uploaded: 2024-08-08

Duration: 00:31