The week ending on 2024-08-10 registered a preliminary number of 227,000 new unemployment insurance claims. The US Department of Labor’s reported number is significantly lower than its previous ten weeks running average of 236,181. The most recent monthly estimate of the US Unemployment Rate is 4.39 percent. Everything else held equal and considering the latest data available (published on 2024-07-01) from the Bureau of Labor Statistics on both Labor Force Participation and Number of Unemployed People, the Unemployment Rate Nowcast reads at 4.39 percent. Econometricus’ Unemployment Rate Nowcast tracks Unemployment Insurance new Claims to show the latest trend of the National Unemployment Rate.

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