US jobless claims dip in latest week; goods trade deficit widens in July
Agencies New York The number of Americans filing new claims for unemployment benefits fell for a second straight week while the overall number of people on jobless relief rolls sli...
Unemployment claims in the United States declined for the second consecutive week, with initial claims for state benefits falling by 4,000 to 203,000 in the week ending August 22, according to the Labor Department. Economists had predicted 208,000 claims for the same period. This suggests the labor market remains stable despite a surprise drop in employment in July. The US jobless rate remained at a historically low 4.1 percent for the month of July.
Meanwhile, the US trade deficit in goods widened to $118.8 billion in July, the largest gap since March 2025. This increase is attributed to a decline in exports and a surge in imports of capital goods, driven by the AI build-out. Exports fell for a third straight month, with industrial goods exports down 11.2 percent. In contrast, imports rose by 3.7 percent, with capital goods imports increasing by 11.3 percent.
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