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Initial jobless claims decreased by 5,000 for the week ending July 23 to 256,000 (consensus 253,000). The prior week’s number was revised up to 261,000 from 251,000. Continuing claims for the week ending July 16 decreased by 25,000 to 1.359 million.
The key takeaway from the report is that it connotes some softening in the labor market, although nothing to an extent that would support a recession argument vis-a-vis the current state of the labor market.
US July nonfarm payrolls rose by 528,000 (consensus 250,000) with June’s a revised 372K new jobs. June unemployment rate was 3.5% (consensus 3.6%), ve
[See the full post at: US Payrolls Add Robust 528k in July with 471k in New Private Jobs]
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