The number of Americans filing for unemployment benefits increased to 230,000 in the week ending September 7, slightly higher than the anticipated 227,000 and up from the previous week's revised figure of 228,000, according to the US Department of Labor (DoL). The rise indicates a continued softening in the labor market.
Additionally, Continuing Jobless Claims, representing those still receiving unemployment benefits, increased by 5,000 to 1.85 million in the week ending August 31. The four-week moving average, a less volatile measure, also edged up slightly to 230,750.
Market Reaction
The US Dollar Index (DXY) remains under pressure, hovering around the 101.60 mark, as the unexpected rise in jobless claims adds to concerns about the US labor market's resilience.
Stay tuned for further market updates.
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