U.S. initial jobless claims drop slightly in mid-june, indicates solid labor market conditions
Source: FxWire Pro - Commentary / 21 Jun 2018 13:37:20 America/New_York
U.S. initial jobless claims continue to indicate solid labor market conditions. For the week ended 16 June, initial jobless claims dropped slightly to 218k, from an upwardly revised 221k. The outturn is widely consistent with expectations. The four week moving average to 221k.
Claims, on a moving average basis, have been running close to historical lows for a few months and imply low rates of job separations in the labor market, noted Barclays in a research report.
The week ended 16 June is the survey week for the June employment report, since it includes the 12th of the month. At 218k, claims are at around the same level as where they were in the May survey week, and imply another month of stable employment gains. Continuing claims for the week ended 9 June rose to 1.723 million, and the insured jobless rate remained stable at 1.2 percent.
At 17:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was slightly bearish at -53.0206. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
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