US Initial Jobless Claims 219,000 Exceed Expectations

Continuing Claims Slightly Below Expectations

Last week, the number of new unemployment claims in the United States exceeded market expectations. However, it is assessed that employment remains robust at levels similar to those before the COVID-19 pandemic.

According to the U.S. Department of Labor on the 20th (local time), the number of new unemployment claims for the week of February 9?15 recorded 219,000, an increase of 5,000 from the revised figure of 214,000 for the previous week. This was also 4,000 higher than the expert forecast of 215,000.

The number of continuing unemployment claims, which counts those claiming benefits for at least two weeks, was 1,869,000 for the week of February 2?8. This was 24,000 more than the revised figure of 1,845,000 for the previous week but 1,000 below the market expectation of 1,870,000.

The U.S. Federal Reserve (Fed) has paused interest rate hikes since last month and is closely monitoring inflation and employment conditions. The minutes of the January Federal Open Market Committee (FOMC) released the day before stated that the current policy rate is "considerably less restrictive," and "participants indicated that they want to see progress on inflation before making further adjustments to the target range for the federal funds rate if the economy remains close to maximum employment."

Economists are also watching unemployment claims to gauge the initial impact of the federal government restructuring efforts being pursued by the second term of the Donald Trump administration.

This content was produced with the assistance of AI translation services.