Breaking: US Initial Jobless Claims Jumps to 217K Beats Estimates
MarketAlleys Desk
Published · 1 min read
The US Department of Labor reported Initial Jobless Claims rose to 217,000 for the week ending November 8, beating the market consensus of 223,000 but a little lower than the prior week's 221,000 tally. The four-week moving average also slipped to 221,000, pointing to labor markets that have generally continued to steady out amid volatility.
Continuing Claims, which calculate the number of jobless benefit recipients on an ongoing basis, fell 11,000 to 1.873 million for the week ended November 1. The insured jobless rate stayed in a steady state at 1.2%, in signaling that job retention is stable everywhere in the economy.
Following the report, the US Dollar Index, or DXY, gave back some of its intra-day gains after reaching new yearly highs above the 107.00 level earlier in the day. Investors' attention keeps staying on resilience from the labor market and the implications for future decisions by the Federal Reserve.
Terms in this article
Initial jobless claims
The weekly number of new US applications for unemployment benefits, released by the Department of Labor on Thursdays.
Moving average
The average price over a rolling window, plotted to smooth out noise.
Volatility
The size and speed of price changes, commonly measured as the annualised standard deviation of returns.
US Dollar Index (DXY)
An index of the US dollar's value against a basket of six currencies: the euro (the largest weight, about 58%), Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc.
Federal Reserve (Fed)
The US central bank, with a dual mandate of maximum employment and stable prices.
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