PiCK
U.S. initial jobless claims 237,000… exceed expectations
Summary
- Last week, the U.S.'s initial jobless claims were 237,000, exceeding market expectations, the U.S. Department of Labor said.
- Continuing unemployment claims were 1,940,000, 20,000 fewer than market expectations, it said.
- Experts said they are closely watching employment indicators such as unemployment claims.
Last week, U.S. initial jobless claims exceeded market expectations.
The U.S. Department of Labor said on the 4th (local time) that initial jobless claims last week totaled 237,000. This is 7,000 more than experts' projection (230,000). Compared with the prior week's revised figure (229,000), it is 8,000 more.
Continuing unemployment claims for those who filed for benefits for two consecutive weeks were reported at 1,940,000. This is 4,000 fewer than the prior week's revised figure (1,944,000). Compared with market expectations (1,960,000), it is 20,000 fewer.
Initial jobless claims are an indicator to gauge overheating in the U.S. labor market. If unemployment claims increase, it can be interpreted as the overheated labor market cooling off.
Experts are watching employment indicators such as unemployment claims closely. This is to assess the impact of U.S. President Donald Trump's aggressive tariff policies and other factors on corporate decision-making.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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