First-time claims for jobless benefits unexpectedly jumped back up after dropping below 700k last week according to the Labor Department. (DOL)
- Seasonally adjusted initial claims were 719,000, an increase of 61,000 from the last week’s revised level
- The 4-week moving average decrease to 719,000, a decrease of 10,500 from last week’s revised levels
The states with the largest increases were Massachusetts (+11,386), Texas (+7,599), Connecticut (+4,170), Maryland (+2,605), and Virginia (+2,035).
The states with the largest decreases were Illinois (-55,580), Ohio (-45,808), California (-13,331), New York (-4,251), and Florida (-2,991).