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- US: Weekly Initial Jobless Claims rise to 245K vs. 240K expected
US: Weekly Initial Jobless Claims rise to 245K vs. 240K expected
- Initial Jobless Claims in the US increased by 5,000 in the week ending April 15.
- Continuing Jobless Claims increased by 61,000 in the week ending April 8.
- US Dollar Index turns negative for the day after economic reports.
There were 245,000 initial jobless claims in the week ending April 15, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week's 240,000 (revised from 239,000) and came in above the market expectation of 240,000.
“The 4-week moving average was 239,750, a decrease of 500 from the previous week's revised average.”
Continuing Claims increased by 61,000 in the week ended April 8 to 1.865 million, above the 1.82 million of market consensus. It is the highest level for insured unemployment since November 2021.
“The 4-week moving average was 1,827,250, an increase of 15,250 from the previous week's revised average. This is the highest level for this average since December 18, 2021 when it was 1,838,000.”
Market reaction
The US Dollar Index pulled back modestly after the Jobless Claims also alongside the Philly Fed report. The DXY turned negative below 102.00.
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