Last week, claim were down to 353,000, at bottom-near since April 2008 and we have asked ‘But is it only volatility’ ? The answer might well be yes.
UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT
In the week ending July 28 the advance figure for seasonally adjusted initial claims was 365,000, an increase of 8,000 from the previous week’s revised figure of 357,000. The 4-week moving average was 365,500, a decrease of 2,750 from the previous week’s revised average of 368,250.
The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending July 21, unchanged from the prior week’s unrevised rate.
The advance number for seasonally adjusted insured unemployment during the week ending July 21 was 3,272,000, a decrease of 19,000 from the preceding week’s revised level of 3,291,000. The 4-week moving average was 3,298,500, a decrease of 11,500 from the preceding week’s revised average of 3,310,000…
via ETA Press Release: Unemployment Insurance Weekly Claims Report.
Companies add 163,000 jobs, but manufacturing falters | Reuters
U.S. companies hired more workers than expected in July, but continued weakness in the manufacturing sector pointed to sluggish economic growth.
The economic recovery has lost steam in recent months as it has been buffeted by the euro zone debt crisis, a struggling U.S. labor market and concerns over higher taxes and government spending cuts that are set to take place early next year.
Economists said Wednesday’s data suggested further slow growth after a 1.5 percent growth rate in the second quarter, though the economy should avoid recession.
“I don’t see any evidence that the weakness is truly feeding on itself at this point but at the same time, there’s no obvious spark for the economy to look a lot better in the next few months, either,” said Jim O’Sullivan, chief U.S. economist at High Frequency Economics in New York…
via Companies add 163,000 jobs, but manufacturing falters | Reuters.
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Source: JMM and FRED
Job Market Monitor 
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