US: Weekly Initial Jobless Claims drop to 193K vs. 215K expected
|- Initial Jobless Claims in the US fell by 16,000 in the week ending September 24.
- US Dollar Index clings to daily gains above 113.00 after the data.
There were 193,000 initial jobless claims in the week ending September 24, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week's print of 209,000 (revised from 213,000) and came in better than the market expectation of 215,000.
Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1% and the 4-week moving average was 207,000, a decrease of 8,750 from the previous week's revised average.
"The advance number for seasonally adjusted insured unemployment during the week ending September 17 was 1,347,000, a decrease of 29,000 from the previous week's revised level," the DOL reported.
Market reaction
The dollar preserves its strength following the upbeat data and the US Dollar Index was last seen rising 0.5% on the day at 113.25.
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