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US initial jobless claims rise to 209K while continuing claims ease
The insured unemployment level fell to 1.777M in the prior week, while the insured unemployment rate stayed at 1.2%.
US initial jobless claims increased to 209,000 in the week ending August 8, rising from a revised 200,000, which put the latest reading above the 202,000 consensus estimate, Action Forex reports.
The weekly change was 9,000 higher, and the four-week moving average remained flat at 199,000, suggesting the uptick is noticeable but has not yet been confirmed as a sharp deterioration in layoffs.
Continuing claims moved in the opposite direction. Insured unemployment fell from a revised 1.799 million to 1.777 million for the week ending August 1, with the four-week average declining from a revised 1.79075 million to 1.7855 million.
Action Forex also noted that the insured unemployment rate was unchanged at 1.2%, pointing to uneven labor market signals rather than a uniform weakening.