US Initial Jobless Claims gained to 216,000 for the week ended October 25 from a revised figure of 228,000 in the prior week, the US Department of Labor reported. This number arrived in below market expectations, which pointed to a strong labor market. The seasonally adjusted insured unemployment rate remained steady at 1.2%, while the four-week moving average declined to 236,500, a decrease by 2,250 compared with the previous week's revised average.
Continuing claims, which count the number of people receiving consecutive aid after an initial week of assistance, decreased by 26,000 to 1.862 mln for the week ended Oct. 18. This drop underlines that more workers are getting absorbed into the labor market despite broader uncertainties in the economy.
After the release, the DXY extended its decline to multi-day lows in the 103.90-103.85 area and tested the pivotal 200-day SMA, as investors analyzed mixed details within the jobless claims report for the future of the economy.
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