U.S. initial jobless claims 199,000…well below expectations

Last week, U.S. initial jobless claims came in well below market expectations.

The U.S. Department of Labor said on the 31st (local time) that initial jobless claims for last week were 199,000. That figure is 20,000 below experts' forecast (219,000). It is also 16,000 fewer than the previous week's revised figure (215,000).

Continuing jobless claims, representing those filing for unemployment benefits for two consecutive weeks, were 1,866,000. That is 47,000 fewer than the previous week's revised figure (1,913,000).

Initial jobless claims are an indicator for gauging overheating in the U.S. labor market. An increase in jobless claims can be interpreted to mean that an overheated labor market is cooling.

Experts are watching jobless claims and other employment indicators to assess the impact of U.S. President Donald Trump's aggressive tariff policies on corporate decision-making.