This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

US Jobless Claims Fall 11,000 to 304,000

WASHINGTON (MNI) -- Initial jobless claims for U.S. state unemployment benefits fell by 11,000 claims to 304,000 in the week ending July 5, the Labor Department reported Thursday.

The 304,000 level of jobless claims was below the 315,000 median expectation from a survey of forecasts compiled by MNI. The June 28 week was unrevised at 315,000.

The Labor Department said there were no special factors and the impact from the holiday shortened week because of the 4th of July won't materialize until next week's release.

Seasonal factors already published by the Labor Department also indicate that unadjusted initial claims are expected to rise 15.5% next week, likely in anticipation of higher claims as auto manufacturers shutdown for annual retooling.

The four-week moving average for initial claims fell by 3,500 to 311,500 as the June 7 week increase in claims rolled off.

The Labor Department said seasonal adjustment factors had expected a 9.3% increase in unadjusted claims. Instead, unadjusted claims rose 5.4% to 322,248. That level is below the 383,811 level reported in the comparable week a year ago.

The level of continuing claims came in at 2.584 million after seasonal adjustment in the June 28 week, an increase of 10,000 from the previous week, and the four week moving average fell 7,750 to 2.571 million which is the lowest level since October 27, 2007 when it was 2.562 million.

The level of unadjusted continuing claims fell 18,627 to 2,393,005 in the June 28 week, which is below the 2,807,991 level seen in the comparable week a year ago.

The seasonally adjusted insured unemployment rate was 2.0% in the June 28 week which is lower than the 2.3% insured unemployment rate during the comparable week a year ago.

The unemployment rate among the insured labor force is well below that reported monthly by the Labor Department because claims are approved for the most part only for job losers, not the job leavers and labor force reentrants included in the monthly report.

The Labor Department reported that a total of 2,465,792 persons claimed unemployment benefits in the June 21 week, a decrease of 3,427 from the previous week and a 2,048,625 decline from a year ago. That level is well below the 4,514,417 persons in the comparable week a year ago. It should be noted that last year's total includes Emergency Unemployment Compensation benefits.

These data are not seasonally adjusted, and include regular state claims, federal employee claims, new veterans claims, extended benefits programs, state additional benefits, and STC/Workshare claims.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs