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US Jobless Claims Fall Slightly, Hold Near Eight-Month High

  • Initial applications dropped 5,000 to 256,000 last week
  • Biggest decreases included Massachusetts and New York
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US Economy Shrinks for Second Straight Quarter
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Applications for US unemployment insurance fell for the first time in four weeks but held near the highest level since November, indicating continued moderation in the labor market.

Initial unemployment claims decreased by 5,000 to 256,000 in the week ended July 23, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for 250,000 applications.