US jobless claims 237,000 US economy struggles with rising unemployment
US jobless claims 237,000 US economy struggles with rising unemployment U.S. labor department recently released data for the week ending July 8, 2023, indicating that weekly jobless claims stand at 237 thousand. This figure represents the number of individuals filing for unemployment benefits for the first time. Moreover, the number of continuing jobless claims, which represents individuals already receiving benefits, stood at 1.729 million for the week ending July 1st, 2023, marking an increase of 11,000 from the previous week's revised level.
The advanced figure for seasonally adjusted initial claims was 237,000 for the week ending July 8, 2023. This figure was revised upwards by one thousand from the previous week's level of 248,000 to 249,000. The four-week moving average, which provides a more stable measure of unemployment trends, was 246,750. The previous week's average was revised upwards by 250 from 253,250 to 253,500.
The advanced seasonally adjusted insured unemployment rate was 1.2 percent for the week ending July 1st, 2023. Despite media reports suggesting otherwise, the fact that U.S. applications for unemployment remain above 200,000 people per week is a clear indication that layoffs and inflation continue to be significant issues as of mid-2023. This figure underscores the reality that many American families are facing financial challenges.
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While the current unemployment figures may seem daunting, it's important to remember that there are solutions available. Whether it's seeking legal advice, exploring debt elimination options, or simply understanding your rights, taking proactive steps can make a significant difference in navigating these challenging times. We specialize in debt elimination and offer free consultations. Contact us at 626-338-5505.