U.S. first-time unemployment claims on rise in mid-July
The numbers: Applications for unemployment benefits rose slightly in mid-July, but the rate of layoffs clung to exceedingly low levels that show the U.S. labor market is still going strong more than a decade after the last recession.
The more stable monthly average of new claims slipped by 250 to 218,750. The four-week average usually gives a better read into labor-market conditions than the more volatile weekly number.What happened: California, Georgia and Texas reported large increases in new jobless claims, partly offset by big declines in New Jersey and Michigan.
The number of people already collecting unemployment benefits, known as continuing claims, fell by 42,000 to 1.69 million. The last time these claims were that low was in the early 1970s.Also Read: $15 minimum wage could help 27 million workers, but cost 1.3 million jobs
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