The number of Americans filing for unemployment benefits declined for the sixth consecutive week.
For the week ending July 19, initial jobless claims fell by 4,000 to 217,000, the lowest level in three months, according to new Department of Labor data released on July 24.
This is down from last week’s reading of 221,000 and came in below the consensus estimate of 227,000.
Claims have been pulling back after reaching an eight-month high in June, with employers hesitant to trim their personnel. At the same time, recent data indicate that companies are also not laying off staff in large numbers.
A program for federal workers filing jobless claims, which economists are closely watching, registered a sizable increase of 193, reaching 789. This represents a 66 percent increase from a year ago….