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- US: Weekly Initial Jobless Claims rise to 248K vs. 219K expected
US: Weekly Initial Jobless Claims rise to 248K vs. 219K expected
- Initial claims were higher than expected in the week ending February 12 at 248K.
- But Continued Claims in the week ending February 5 were lower than expected.
There were 248,000 initial claims for unemployment benefits in the US during the week ending February 12, the data published by the US Department of Labor (DOL) revealed on Thursday. This was above the median economist forecast for 219,000 initial claims and was also above last week's 225,000 reading, which had been revised higher from 223,000. That meant the four-week average fell to 243,250 from 253,750 the week prior.
Continued claims fell to 1.593M in the week ending on February 5, below the expected 1.605M and down from last week's 1.619M reading, which had been revised a touch lower from 1.621M. The insured unemployment rate was unchanged at 1.2% on the week ending on February 5.
Market Reaction
FX markets seem far more focused on geopolitics right now and, thus, there has not been a notable reaction to the latest data.
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