U.S. New Unemployment Claims at 245,000, Below Expectations

Son Min

Summary

The number of new unemployment claims in the United States was 245,000, falling below expectations.
Continuing claims exceeded expectations, signaling signs of a cooling job market.
After the announcement, Bitcoin slightly declined, trading at $104,665, down 0.93%.

The number of new unemployment claims in the United States came in below expectations.

According to data released by the U.S. Department of Labor on the 18th (local time), this week's new unemployment claims totaled 245,000, falling short of the expected 246,000. This figure is down by 5,000 compared to last week's revised new claims of 250,000.

The number of continuing unemployment claims for the second consecutive week was 1,945,000, exceeding expectations (1,940,000).

New unemployment claims are one indicator for gauging overheating in the U.S. labor market. An increase in claims means a rise in the number of unemployed, signaling a cooling in the job market.

Meanwhile, following the release of the new unemployment claims data, Bitcoin slightly declined. As of 9:31 p.m., Bitcoin was trading at $104,665 on the Binance USDT Market, down 0.93% from 24 hours earlier.