Initial jobless claims fell by 26,000 in the week ended July 10 to a total of 360,000; it was the lowest level since March 14, 2020, when there were 256,000 initial claims, according to seasonally adjusted data released today by the US Department of Labor.
In addition, the four-week moving average of claims fell by 14,5000 in the week ended July 10 to a total of 382,500. It was also the lowest level since the March 14, 2020, average of 225,500.
Pandemic Unemployment Assistance claims, which are not seasonally adjusted, fell by 197,748 to a total of 4.7 million. The PUA program includes self-employed workers.