K to 227K vs. 236K consensus and 232K prior (revised from 233K), according to data released by the Department of Labor on Thursday. Continuing claims for week ended June 28: 1.965M vs. 1.980M consensus and 1.

The number of Americans filing new applications for jobless benefits unexpectedly fell to a seven-week low last week, suggesting employers may be holding on to workers despite other indications of a cooling labor market and creating no urgency for the Federal Reserve to resume its interest rate cuts.

Initial filings for unemployment benefits in Utah rose last week compared with the week prior, the U.S. Department of Labor said Thursday. New jobless claims, a proxy for layoffs, increased to 1,343 in the week ending July 5, up from 1,240 the week before, the Labor Department said.