Initial applications for U.S. unemployment benefits saw a surprising slight drop during the week ending July 5, according to Thursday’s Labor Department report.
The data revealed that first-time claims fell to 227,000, down 5,000 from the prior week’s revised figure of 232,000.
This decline came against economist expectations, who had predicted claims would rise to 235,000 from the previously reported 233,000.
Meanwhile, the Labor Department noted that the less erratic four-week moving average also decreased, reaching 235,500—a reduction of 5,750 compared to the revised 241,250 from the week before.
Looking ahead, at 10 a.m. ET, St. Louis Fed President Alberto Musalem will take part in a fireside chat about the U.S. economy and monetary policy, broadcast live by the Official Monetary and Financial Institutions Forum.
Later in the day, at 1 p.m. ET, the Treasury Department will release the results of this month’s auction of $22 billion in 30-year government bonds.
At 1:15 p.m. ET, Federal Reserve Governor Christopher Waller will join a panel discussion on the Fed’s balance sheet during an event co-hosted by the Dallas Fed and the World Affairs Council of Dallas/Fort Worth.
Finally, at 2:30 p.m. ET, San Francisco Fed President Mary Daly is scheduled to speak on the U.S. economic outlook and challenges for policymakers in a livestreamed MNI Connect Video Conference.
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