US initial jobless claims dropped -14k to 385k in the week ending July 31, slightly above expectation of 382k. Four-week moving average of initial claims dropped -250 to 394k.
Continuing claims dropped -366k to 2930k in the week ending July 24. That’s the lowest level since March 14, 2020. Four-week moving average dropped -109k to 3188k, lowest since March 21, 2020.
