July 12, 2021 — Initial Jobless Claims Rise Slightly

JULY 12, 2021 – INITIAL JOBLESS CLAIMS RISE SLIGHTLY

In the holiday shortened week, the US Labor Department announced the new weekly jobless claims came in at 373,000, 2,000 more than the week before, and greater than the expected number of 350,000.  The data is not causing worries, as it is not seen as the start of a trend. With the continuing rebound of the economy, more people should find their way back to work.

The first quarter of 2021 showed expansion at a 6.4 percent annualized rate, the second quarter is estimated to have grown close to 10 percent, with government releasing its first estimate on July 29. The Congressional Budget Office is projecting growth at the end of this year will be 6.7 percent, the highest since 1984.

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