Economic Buzz: US weekly unemployment claims edge higher modestly

Latest data from US department of labour showed that, in the week ending August 1, the advance figure for seasonally adjusted initial claims was 199,000, marking an increase of 1,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 197,000 to 198,000. The 4-week moving average was 198,750, a decrease of 4,500 from the previous week's revised average. The previous week's average was revised up by 500 from 202,750 to 203,250. The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending July 25, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending July 25 was 1,801,000, an increase of 24,000 from the previous week's revised level. The previous week's level was revised down by 5,000 from 1,782,000 to 1,777,000. The 4-week moving average was 1,791,250, a decrease of 5,000 from the previous week's revised average. The previous week's average was revised down by 1,250 from 1,797,500 to 1,796,250.

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