Jobless claims rise, but four-week average drops
In all for the week, the Department of Labor said total seasonally-adjusted initial claims came in at 584,000. However, the department also reported that seasonally-adjusted insured unemployment fell by 54,000 for the week of July 18 and stands at approximately 6.19 million.
The four-week moving average of for initial jobless claims dropped to 559,000 from 567,250.
With regard to emergency unemployment claims, the Department of Labor showed that states reported a seasonally-unadjusted total of almost 2.7 million claims for the week of July 11. That represents a 24,518 increase from the previous week.
Though unemployment numbers may be seeing a small slow-down, Americans are still trying to cope with the possibility of losing their jobs. According to a recent survey from the policy group Demos, 24 percent of the credit card debt of respondents is being used to deal with a job loss.