This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Initial Jobless Claims Drop by 14,000

NEW YORK ( TheStreet) -- The number of Americans filing for unemployment benefits continued a slow slide downward last week.

The Bureau of Labor reported that 418,000 Americans filed for unemployment benefits in the week ending July 2, a slightly better than expected drop of 14,000. Economists were predicting initial claims to come in higher at 425,000, according to

In the previous week, 432,000 Americans filed initial claims.

Continuing claims for the week ending June 25. came in at 3.68 million, down from 3.72 million from the prior week. That drop was also better than predicted. Analysts were looking for continuing claims to come in around 3.7 million, according to

The four-week moving average on initial claims ticked down by 3000 to 424,750.

The report on private jobs and the weekly initial claims data comes ahead of tomorrow's key government unemployment report. The market has been climbing in anticipation of jobs data as well as the kickoff of earnings season next week.

The slide in initial claims still suggests that the labor market has slowed down relative to the spring. "Claims data have been trending sideways, while continuing claims data have slowly moved lower," said a Barclays report.

-- Written by Chao Deng in New York.

>To contact the writer of this article, click here: Chao Deng.

>To follow the writer on Twitter, go to: @chao_deng

>To submit a news tip, send an email to:

>To contact the writer of this article, click here: Chao Deng.

>To follow the writer on Twitter, go to: @chao_deng

>To submit a news tip, send an email to:

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
TSLA $223.91 -3.50%
YHOO $32.15 0.88%
AAPL $108.52 -2.00%
FB $90.70 -1.80%
GOOG $627.34 -2.30%


Chart of I:DJI
DOW 16,924.21 +11.92 0.07%
S&P 500 1,995.83 +15.91 0.80%
NASDAQ 4,763.9660 -27.1860 -0.57%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs