PiCK
U.S. new unemployment claims 236,000…far exceed expectations
Summary
- The U.S.'s new unemployment claims totaled 236,000, exceeding market expectations by 16,000, the U.S. Labor Department said.
- Continuing claims totaled 1,838,000, falling short of the market forecast by 112,000.
- An increase in unemployment claims is an indicator suggesting a cooling of overheating in the U.S. labor market, and investors are paying attention to related employment indicators.
Last week, U.S. new unemployment claims significantly exceeded market expectations.
The U.S. Labor Department said on the 11th (local time) that last week's new unemployment claims were 236,000. That figure exceeded experts' forecast (220,000) by 16,000. Compared with the previous week's revised figure (192,000), it is 44,000 higher.
Continuing claims, which count people claiming unemployment benefits for two consecutive weeks, totaled 1,838,000. That is 99,000 fewer than the previous week's revised figure (1,937,000). It is 112,000 fewer than the market forecast (1,950,000).
New unemployment claims are an indicator for gauging overheating in the U.S. labor market. An increase in unemployment claims can be interpreted as the overheated labor market cooling.
Experts are watching employment indicators such as unemployment claims to assess how U.S. President Donald Trump's aggressive tariff policies are affecting corporate decision-making.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
