U.S. jobless claims dip as labor market holds steady despite seasonal rise

New U.S. jobless claims fell, coming in below experts' expectations.

On Jul. 9, the U.S. Department of Labor said initial claims for unemployment benefits totaled 215,000 for the week of Jun. 28–Jul. 4, down 2,000 from the previous week.

Earlier, Dow Jones put the expert forecast for initial jobless claims at 218,000.

By contrast, continuing claims—filed by those seeking benefits for two weeks or longer—rose.

Continuing claims for those seeking benefits for two weeks or longer totaled 1,814,000 for the week of Jun. 21–27, up 8,000 from the prior week.

The increase in continuing claims is seen as reflecting seasonal factors, such as more unemployment filings by non-regular school staff coinciding with the summer break.