ICYMI: U.S. weekly jobless claims total 385,000, matching estimates.
Initial claims for unemployment insurance edged lower last week, meeting Wall Street expectations, while longer-term unemployment signs showed improvement, the Labor Department reported Thursday.
Claims have circled largely in a range around the 400,000 level since mid-May, with employment rising in Covid-hit sectors such as leisure and hospitality but changing little in some other key sectors including most goods-related industries. The slide in continuing claims came as the total of those receiving benefits under all programs fell to just below 13 million, a reduction of 181,251, according to data through July 17 that reflected a drop in those receiving extended benefits. A year ago, that number was just shy of 32 million as enhanced unemployment benefits were directed to those displaced by widespread business lockdowns.
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