Bonds & Rates
Home›Bonds & Rates›Economy›US initial jobless claims hold near 206K ahead of NFP
US initial jobless claims hold near 206K ahead of NFP
The four-week moving average of initial claims rose to 207.25K, while continued claims increased to 1.779M, leaving the labor picture broadly neutral.
US initial jobless claims rose slightly to 206K in the week ended August 29, unchanged from market expectations, according to Action Forex. The prior week was revised up to 204K from 203K, keeping the latest print close to the consensus figure.
The four-week moving average of initial claims increased from 205.75K to 207.25K. Action Forex said this overall level continues to suggest limited layoffs rather than a sharp deterioration in labor demand.
Continued claims edged higher, rising from a revised 1.771M to 1.779M in the week ended August 22. The insured unemployment rate held at 1.2%, and the four-week average of insured unemployment declined from 1.787M to 1.782M, indicating the recent weekly increase had not yet broadened.
With initial claims matching expectations, Action Forex framed Friday’s nonfarm payrolls report as the bigger test for whether any labor-market weakness remains concentrated in slower job creation or starts to show up more clearly in layoffs.