US initial jobless claims at 227,000, above forecasts

US initial jobless claims last week came in above market expectations.

The US Department of Labor said on the 12th (local time) that initial jobless claims totaled 227,000 last week. The figure was 5,000 higher than economists’ forecast of 222,000. It was 5,000 lower than the previous week’s 232,000.

Continuing claims, which track those who have filed for unemployment benefits for two consecutive weeks, totaled 1.862 million. That was 21,000 higher than the prior week’s revised 1.841 million. It was also 12,000 above the market forecast of 1.85 million.

Initial jobless claims are an indicator used to gauge overheating in the US labor market. An increase in claims can be interpreted as a sign that an overheated labor market is cooling.

Experts are closely watching employment indicators such as jobless claims to assess how factors including US President Donald Trump’s aggressive tariff policies are affecting corporate decision-making.