GORVEMENT REPORT SERIES
In the week ending July 9, seasonally adjusted initial claims was 244,000, an increase of 9,000 from the previous week’s level of 235,000. The four week average has gone 14 consecutive weeks without a decline, however…
- Prior to last November initial claims remain low
- A tight labor market restricts consumer spending.
Initial claims weekly data declined more than 39% since Q3 2021
Initial claims averaged +400,000 during Q3 of 2022, as compared with 244.000 this week. A decline of 39%.
Claims data continue to point to tight labor market
A tighter labor market is an important precursor for correcting inflation in the economy, as it acts to restrict consumer spending.
gov claims data report 7-14-22
