Weekly US initial jobless claims 787K vs 870K expected

Weekly US initial jobless claims data

initial jobless claims
  • Prior was 898K (revised to 842K)
  • Continuing claims 8373K vs 9625K expected
  • Prior continuing claims 10,018K (revised to 9397K)
  • PUA claims 345K vs 372K prior
  • Total people collecting benefits in all programs 23,150,427 (-1,046,493 w/w)
  • Full report
These numbers are much better than expected. There is lots of talk about fraud in PUA claims with Arizona rejecting 90% of claims. There is also the reporting mess in California that’s slowly getting sorted out. Those numbers weren’t expected to be back so soon and added 27.9K claims.
“California has completed its pause in processing of initial claims and has resumed  reporting actual unemployment insurance claims data based on their weekly claims  activity.”