First rebound in three weeks! The number of initial jobless claims in the United States last week was 230,000, higher than expected
In the week ending September 7th, the initial jobless claims in the United States were 230,000, slightly higher than the expected 227,000. The number of continued jobless claims for the week was 1.85 million, increasing by 5,000. With the slowdown in labor demand, the market generally expects the central bank to cut interest rates by 25 basis points at the upcoming meeting next week
The number of initial jobless claims in the United States rose for the first time in three weeks last week, consistent with the gradual slowdown in hiring. With labor demand easing, the market generally expects the central bank to cut interest rates by a small margin of 25 basis points at the meeting next week.
On Thursday, September 12, the U.S. Department of Labor released data showing that in the week ending September 7, the number of initial jobless claims in the United States was 230,000, with an expectation of 227,000 and a previous value of 227,000.
After the data was released, the U.S. dollar index rose by more than ten points in the short term, now at 101.76. Futures for the three major U.S. stock indexes fell slightly, with Nasdaq 100 index futures narrowing their gains to 0.07%, Dow futures rising by 0.14%, and S&P 500 index futures rising by 0.13%.
In addition, the number of continued jobless claims in the United States as of the week ending August 31 increased slightly by 5,000 to 1.85 million. After surging to the highest level since the end of 2021 in July, continued jobless claims mostly trended downward by August, consistent with the decrease in the unemployment rate last month.
The four-week moving average rose to 230,750, the first increase in five weeks. In recent weeks, initial jobless claims have been at a low level. Economists have been monitoring signs of a decline in the labor market.
However, last week's data survey period included the U.S. Labor Day holiday. Initial jobless claims tend to fluctuate around public holidays.
Before seasonal adjustments, initial jobless claims decreased by 12,968 to 177,663. New York saw the largest decline, followed by Ohio and Georgia.
