According to the US Department of Labor’s (DOL) release of weekly data on Thursday, there were 239,000 new claims for unemployment benefits during the week ending April 8. This print exceeded the market expectation of 232,000 and follows the unrevised print of 228,000 from the previous week. Since January 15, 2022, it has reached its maximum level.
“The 4-week moving average increased by 2,250 from the unrevised average of 237,750 from the prior week to 240,000. The DOL stated that this is the average’s highest level since November 20, 2021, when it was 249,250.
In the week ending April 1, continuing claims decreased by 13,000 to 1.810 million, above the 1.814 million market consensus.
“The 4-week moving average increased by 9,500 from the prior period to 1,813,500. 1,804,000 was the week’s unrevised average. The DOL said that this is the average’s highest level since November 13, 2021, when it reached 2,007,000.
US Weekly Initial jobless claims reaction on Market
After claims and together with lower-than-expected inflation data, the US Dollar Index plunged to new monthly lows, touching 101.00.
