US initial jobless claims came in at 197K, below the 200K consensus estimate in the latest report. The prior week’s reading was revised to 188K from 187K. Meanwhile, continuing claims fell short of forecasts as well.
Continuing claims stood at 1.782 million, compared with expectations for 1.795 million. The previous week’s figure was revised down to 1.789 million from 1.796 million. Therefore, both readings came in lower than economists expected.
US Initial Jobless Claims and Continuing Claims
The report showed a firmer labor market picture. Initial claims stayed near low levels, which pointed to limited layoffs. Additionally, the downside surprise in both figures suggested firms were still reluctant to cut staff.
The data also supported the view that labor market conditions remained solid. However, the source article did not cite any market reaction to the release.
You can access our other news on Forex markets and global market developments here.
Source: InvestingLive
