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US weekly jobless claims remain near ultra-low levels
Initial claims were 197K, with continuing claims at 1,716K versus 170.8K expected.
US weekly initial jobless claims were reported at 197K, after the prior week was revised to 199K. Continuing claims were 1,716K, compared with 1,708K expected.
The report also noted that the prior continuing claims figure was revised to 1,699K from 1,701K.
According to Forexlive, the figures remain near ultra-low, multi-generational lows and point to a solid US jobs market. The outlet also highlighted that the Labor Department releases the data on Thursdays at 8:30 a.m. Eastern, with the headline figure seasonally adjusted.
Forexlive added that lower initial claims generally suggest employers are holding onto workers, while a sustained rise can signal weakening conditions. The report also said markets tend to focus on surprises versus forecasts, which can affect Treasury yields and the US dollar.