Initial Jobless Claims dropped to 209K last week
The number of US citizens submitting new applications for unemployment insurance rose to 209K for the week ending January 24. The latest print came in short of initial estimates (205K) and was a tad lower than the previous week’s revised 210K, according to a report from the US Department of Labour (DOL) released on Thursday.
Additionally, the 4-week moving average increased by 2,250, bringing it to 206.25K from the revised average of the previous week (204K).
The report also indicated that Continuing Jobless Claims dropped by 38K to 1.827M for the week ending January 17. This is the lowest level for insured unemployment since September 21, 2024, according to the official report.
Market Reaction:
The US Dollar (USD) sees little movement after the release of the weekly unemployment claims figure, with the US Dollar Index (DXY) trading stable near 96.30.
Source: FXstreet.com