14:30 - US (weekly) jobless claims:
- Initial Jobless Claims: 214k (Expected: 222k; Previous: 224k)
- Continuing Jobless Claims: 1,923k (Previous: 1,897k)
- 4-week Average Claims: 216,75k (Previous: 217,5k)
The unemployment data from the USA turned out to be better than expected on a monthly basis, with readings dropping from 224k to 214k. A slight decrease was also recorded in the 4-week average of claims.
However, the number of repeat/continuous claims increased noticeably, reaching over 1.92 million. This is the highest level since 2021.
Looking more closely at the BLS report, it can also be observed that although the number of weekly claims is decreasing, the number of unemployed individuals receiving benefits is rising.
This is just one of the reasons to suspect that the quality of BLS data is declining due to a lack of data and faulty methodology, which may result in greater responsiveness to private labor market readings in the future.
The market reaction to the data remains limited.
EURUSD (M1)
Source: xStation5
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