Editor's PiCK
US New Jobless Claims at 220,000... Below Market Expectations
Summary
- Last week's US new jobless claims came in at 220,000, below market expectations, according to the announcement.
- Continuing unemployment claims totaled 1.87 million, undercutting both the previous week's revised figure and market forecasts.
- Jobless claims serve as an indicator to gauge labor market overheating, and experts are monitoring these figures to track labor market conditions, the report stated.
Last week's new jobless claims in the United States came in below market expectations.
The US Department of Labor announced on the 13th (local time) that new jobless claims last week totaled 220,000. This is 6,000 lower than market expectations (226,000). Compared to the previous week's revised figure (222,000), it's 2,000 fewer claims.
Continuing unemployment claims, representing those who have claimed unemployment benefits for two consecutive weeks, totaled 1.87 million. This undercut both the previous week's revised figure (1,897,000) and market forecasts (1.9 million) by 27,000 and 30,000 respectively.
New jobless claims serve as an indicator to gauge the overheating of the US labor market. An increase in unemployment claims can be interpreted as a sign that an overheated labor market is cooling down. Experts are closely monitoring employment indicators such as jobless claims to assess the impact of President Donald Trump's federal government restructuring and tariff increases on corporate decision-making.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
