PiCK
U.S. Initial Jobless Claims at 222,000, Meeting Market Expectations
Summary
- The number of initial jobless claims in the U.S. was reported to be 222,000, meeting market expectations.
- The number of initial jobless claims is reported as an indicator that can gauge the degree of overheating in the labor market.
- Experts stated that they are closely monitoring employment indicators such as jobless claims.
Last week, the number of initial jobless claims in the United States met market expectations.
The U.S. Department of Labor announced on the 24th (local time) that the number of initial jobless claims last week was counted at 222,000. This figure meets the expert forecast of 222,000. It is 6,000 more than the revised figure of 216,000 from the previous week.
The number of continued jobless claims, which refers to those who have claimed unemployment benefits for two consecutive weeks, was counted at 1,841,000. This is 37,000 and 39,000 below the revised figure of 1,878,000 from the previous week and the market expectation of 1,880,000, respectively.
The number of initial jobless claims is an indicator that can gauge the overheated 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.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
