US Jobless Claims and Economic Data on Thursday

The article discusses the upcoming economic calendar for Thursday, highlighting the release of new unemployment claims data. The number of individuals who filed for unemployment insurance for the first time is expected to bounce back to 238K, following an unexpected decline to 233K in the previous week.

Thursday's economic calendar is set to release new unemployment claims data, providing insights into the labor market's resilience amid ongoing uncertainty. The number of individuals filing for unemployment insurance for the first time is expected to bounce back to 238,000, following an unexpected decline to 233,000 in the previous week [1].

The Labor Department reported that jobless claims for the week ending June 28 fell by 4,000 to 233,000, less than the 241,000 that analysts forecast. This drop indicates a continuation of historically low layoffs, despite uncertainties surrounding tariffs and President Donald Trump's economic policies [1]. The four-week average of claims also decreased by 3,750 to 241,500, signaling a stable trend in unemployment benefits applications [1].

The report also highlighted that U.S. employers added 147,000 jobs in June, a figure much higher than expected. This job gain was accompanied by a decrease in the unemployment rate from 4.2% to 4.1%, a sign of the labor market's resilience despite economic uncertainties [1]. While the unemployment rate remains low, many companies have announced job cuts this year, including Procter & Gamble, Workday, Dow, CNN, Starbucks, Southwest Airlines, and Facebook parent company Meta [1]. Microsoft recently announced a layoff of about 9,000 workers, its largest in over two years [1].

In Texas, initial filings for unemployment benefits dropped last week compared to the previous week. New jobless claims fell to 16,864 in the week ending June 21, down from 19,333 the week before [2]. Nationally, unemployment claims dropped to 236,000 last week, down 10,000 claims from 246,000 the week prior on a seasonally adjusted basis [2].

Maryland's unemployment insurance trust fund faces potential solvency issues, as the state's unemployment rate stands at 3.2% in May. Maryland Labor Secretary Portia Wu has expressed concerns that the fund could fall below federal solvency guidelines due to economic downturns or rising jobless rates [3]. The state's unemployment insurance trust fund is currently at $2 billion, but projections suggest it could fall below federal guidelines by 2027 if no changes are made to benefits or taxes levied on employers [3].

The upcoming unemployment claims data release will provide further insights into the labor market's health and the resilience of the U.S. economy in the face of ongoing uncertainties.

References:
[1] https://www.newsmax.com/finance/streettalk/jobless-claims-unemployment/2025/07/03/id/1217468/
[2] https://www.yahoo.com/news/unemployment-claims-texas-declined-last-090211820.html
[3] https://southernmarylandchronicle.com/2025/07/09/labor-secretary-raises-concerns-about-solvency-of-state-unemployment-fund/