Economists had forecast 1.3 million claims. The prior week was initially reported as 1.3 million claims. The Labor Department revised that figure up by 7,000.
Claims hit a record 6.87 million for the week of March 27. Until this week, each subsequent week has seen claims decline.
Continuing claims during the week ending July 11 fell to 16,197,000, a decrease of 1,107,000 from the previous week’s revised level. The previous week’s level was revised down by 34,000 from 17,338,000 to 17,304,000. These figures are reported with a week’s lag.