PiCK
US initial jobless claims total 212,000, below expectations
Summary
- The US Department of Labor said last week’s initial jobless claims totaled 212,000, below economists’ forecast of 217,000.
- Continuing claims totaled 1.833 million, coming in below both the prior week’s revised figure and the market estimate.
- Experts said they are closely watching employment indicators such as initial jobless claims and continuing claims.
Forecast Trend Report by Period
The number of new US jobless claims last week came in below market expectations.
The US Department of Labor said on the 26th (local time) that initial jobless claims totaled 212,000 last week. That was 5,000 below economists’ forecast of 217,000. Compared with the prior week’s revised figure of 208,000, it was up 4,000.
Continuing claims, filed by people who claimed unemployment benefits for a second consecutive week, totaled 1.833 million. That was 31,000 below the prior week’s revised 1.864 million. It was also 27,000 less than the market estimate of 1.86 million.
Initial jobless claims are a gauge of 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 US President Donald Trump’s aggressive tariff policies are affecting corporate decision-making.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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