US Initial Jobless Claims 'Exceed Expectations'... Claims Over 2 Weeks Reach 3-Year High

New Unemployment Claims Reach 223,000
Up 6,000 from Previous Week

Last week, the number of new unemployment benefit claims in the United States slightly exceeded market expectations.

According to the U.S. Department of Labor on the 23rd (local time), the number of new unemployment benefit claims for the week of January 12-18 was recorded at 223,000, an increase of 6,000 from the revised figure of 217,000 for the previous week. The expert forecast of 221,000 was also exceeded by 2,000 claims.

The number of continuing unemployment benefit claims, which are claims filed for at least two consecutive weeks, reached 1,899,000 for the week of January 5-11, marking the highest level in 3 years and 2 months since November 2021. This is 46,000 more than the revised figure of 1,853,000 for the previous week and 39,000 more than the market forecast of 1,860,000.

The U.S. Federal Reserve (Fed) has indicated it will slow the pace of monetary easing due to concerns over robust growth and a rebound in inflation, leading the market to closely watch employment trends.

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