Editor's PiCK
US initial jobless claims at 209,000, above expectations
Summary
- The US Department of Labor said initial jobless claims last week totaled 209,000, above economists’ forecast.
- Continuing jobless claims came in at 1,827,000, below both the prior week and the market estimate.
- Economists said they are monitoring employment indicators such as initial jobless claims to track changes in the overheated US labor market and corporate decision-making.
US initial jobless claims last week came in above market expectations.
The US Department of Labor said on the 29th (local time) that initial jobless claims totaled 209,000 last week. That was 3,000 higher than economists’ forecast (206,000). It was 1,000 lower than the prior week’s revised figure (210,000).
Continuing jobless claims, filed for two consecutive weeks, totaled 1,827,000. That was 38,000 below the prior week’s revised figure (1,865,000). It was 33,000 lower than the market estimate (1,860,000).
Initial jobless claims are an indicator that can help gauge overheating in the US labor market. An increase in claims can be interpreted as a sign that an overheated labor market is cooling.
Economists are watching employment indicators such as jobless claims to assess how factors including US President Donald Trump’s aggressive tariff policy are affecting corporate decision-making.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
