The number of US unemployment claims fell last week, indicating that the labor market remains stable. According to data released by the US Department of Labor on Thursday, the number of first-time jobless claims fell by 8,000 to 208,000 in the week ending July 11. The median forecast of the economists surveyed was 217,000 people. The number of people who continued to claim unemployment benefits in the previous week fell to 1.81 million, which was also lower than expected. After a surge in May and early June, the number of first-time claimants has fallen back to an all-time low. Meanwhile, the unemployment rate fell last month, further indicating that employers are trying to retain employees as much as possible. The four-week moving average of first-time jobless claims fell to 214,250 last week. Unadjusted for seasonal factors, the number of first-time applicants rose to 244,826, with California and Missouri leading the increase.

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