First-Time Jobless Claims Trend Downward

States reported that 375,000 workers filed for new unemployment benefits during the week ending August 7, a decrease of 12,000 from the previous week’s revised level. Although new claims are down significantly from their weekly level of more than 1 million this time last year, they are still elevated compared to their 2019 weekly average of just over 200,000.
Source: New feed 2