US: Initial Jobless Claims rose more than expected last week

FXStreetJul 3, 2024 12:50 PM

Initial Jobless Claims rose by 238K vs. the previous week.
Continuing Jobless Claims increased by nearly 1.850M.

US citizens that applied for unemployment insurance benefits increased by 238K in the week ending June 29 according to the US Department of Labor (DoL) on Thursday. The prints came in above initial estimates (235K) and were higher than the previous weekly gain of 234K (revised from 233K).

Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1.2% and the 4-week moving average was 238.50K, an increase of 2.250K from the previous week's revised average.

In addition, Continuing Claims increased by 26K to 1.858M in the week ended June 22.

Market reaction

The US Dollar Index (DXY) maintains its bearish stance on Thursday, hovering around the mid-105.00s amidst the firm improvement in the risk-associated galaxy.

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