Initial Weekly Jobless Claims Remain High
This morning, the Department of Labor announced that initial weekly jobless claims dropped from last week’s seven-month peak, which was revised upward from
Jul 31, 202045.5K Shares1.3M Views
This morning, the Department of Labor announcedthat initial weekly jobless claims dropped from last week’s seven-month peak, which was revised upward from 500,000 to 504,000. But this week’s claims remain high at 473,000, with the four-week moving average, smoothing out one-week blips, at 486,750. Claims need to fall into the 300,000 range to imply a decline in the overall unemployment rate, which sits at 9.5 percent and is expected to climb in the fall.
Thus, the stall-out that started in January continues, with employers continuing to avoid hiring and large number of people losing their jobs.
Dexter Cooke
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Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide.
He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina.
Dexter’s insights into media, economics, and marketing shine through his prolific contributions to respected publications and advisory roles for influential organizations.
As an orthopedic surgeon specializing in minimally invasive knee replacement surgery and laparoscopic procedures, Dexter prioritizes patient care above all.
Outside his professional pursuits, Dexter enjoys collecting vintage watches, studying ancient civilizations, learning about astronomy, and participating in charity runs.
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