FXStreet (Mumbai) – The US labor department data released on Thursday showed the first time applications for unemployment benefits rose to 271K in the week ended June 19, missing the estimate of 272K.
Jobless claims below 300K for 16th consecutive week
The jobless claims increased by 3K last week. The number stayed below 300K for the 16th straight week, a sign labor market momentum continues to strengthen. The prior week’s reading was revised to 268K from 267K. The four-week average of claims, which provides a more accurate picture of the labor market strength, dropped to 273,750 from 277,000 in the prior week.
Meanwhile, the continuing claims rose by 22,000 to 2.25 million in the week ended June 13.
(Market News Provided by FXstreet)