U.S. initial jobless claims 229,000…below expectations

JOON HYOUNG LEE

Summary

The U.S. initial jobless claims were 229,000, falling short of market expectations.
This was described as a sign that the U.S. labor market's overheating has not yet cooled.
Experts said they are watching employment indicators such as unemployment claims and the impact of President Donald Trump's tariff policies.

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

The U.S. Department of Labor said on the 28th (local time) that last week's initial jobless claims totaled 229,000. That figure was 2,000 fewer than the experts' forecast (231,000). It was 5,000 fewer compared with the previous week's revised figure (234,000).

The number of continued jobless claims, for those claiming unemployment benefits for two consecutive weeks, was 1,954,000. That was 7,000 fewer than the previous week's revised figure (1,961,000). It was 16,000 fewer compared with the market expectation (1,970,000).

Initial jobless claims are an indicator that can gauge overheating in the U.S. labor market. An increase in unemployment claims can be interpreted as meaning an overheated labor market is cooling.

Experts are watching employment indicators such as unemployment claims to assess the impact of U.S. President Donald Trump's aggressive tariff policies on corporate decision-making.

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