U.S. initial jobless claims rise in mid-may, but stay close to recovery lows
Source: FxWire Pro - Commentary / 24 May 2018 12:51:09 America/New_York
U.S. initial jobless claims rose higher, but continue to be close to recovery lows. The jobless claims came in above expectations in the week ended 18 May, rising 11k to 234k from a revised 223k previously. Consensus expectations were a largely unchanged reading.
The four-week average in initial claims also rose higher to 220k from 214k a week earlier, but the series continues to be close to its recovery-level lows, stated Barclays in a research report. Meanwhile, continuing claims for the week ended 12 May rose to 1.741 million from 1.712 million a week earlier.
However, in spite of the week-on-week rise, continuing claims are well below their April survey week value of 1.834 million and pain a healthy picture for May employment. The insured jobless rate remained stable at 1.2 percent for the second straight week. Overall, the jobless claims data indicate towards a labor market with historically low rates of separation, added Barclays.
At 16:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was neutral at 32.1595. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest© FxWire Pro 2018. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.