Initial jobless claims came in higher than expected, 243,000 vs 229,000, for the week ended July 13th. Last week’s reading was an increase of 21,000 from the week prior. Continuing claims rose to 1.867 million, also higher than expected. The upward trend in both initial and continuing claims paints the picture of a cooling job market, one that could put upward pressure on the unemployment rate.
Hafizan Hamzah Senior Director, Investment Management Group
Date Event Surv(M) Actual Prior Revised 07/18/24 Initial Jobless Claims 229k 243k 222k 223k 07/18/24 Continuing Claims 1856k 1867k 1852k 1847k 07/18/24 Philadelphia Fed Business Outlook 2.9 13.9 1.3 — 07/18/24 Leading Index -0.30% — -0.50% — 07/18/24 Total Net TIC Flows — — $66.2b — 07/18/24 Net Long-term TIC Flows — — $123.1b — 07/19/24 Bloomberg July United States Economic Survey
Hafizan Hamzah Senior Director, Investment Management Group
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