U.S. Initial Jobless Claims at 224,000, Below Market Expectations

Last week, the number of initial jobless claims in the U.S. fell short of market expectations.

The U.S. Department of Labor announced on the 27th (local time) that the number of initial jobless claims last week was tallied at 224,000. This is 1,000 less than the expert forecast of 225,000. It is also 1,000 less compared to the revised figure of the previous week (225,000).

The number of continuing jobless claims, which refers to those who have claimed unemployment benefits for two consecutive weeks, was recorded at 1,856,000. This is 25,000 and 34,000 less than the revised figure of the previous week (1,881,000) and the market expectation (1,890,000), respectively.

The number of initial jobless claims is an indicator that can gauge the overheating situation of the U.S. labor market. An increase in jobless claims can be interpreted as a sign that the overheated labor market is cooling down.

Experts are closely monitoring employment indicators such as jobless claims to understand the impact of U.S. President Donald Trump's federal government restructuring and tariff increases on corporate decision-making.