US: Initial Jobless Claims dropped to 228K last week

Initial Jobless Claims ticked lower to 228K.
Continuing Jobless Claims eased to 1.879M.

Pablo Piovano FXStreet

US citizens filing new applications for unemployment insurance decreased to 228K for the week ending May 3, as reported by the US Department of Labor (DOL) on Thursday. This print came in just below initial estimates and was lower than the previous week's unrevised tally of 241K.

The report also highlighted a seasonally adjusted insured unemployment rate of 1.2%, while the four-week moving average increased by 1K to 226K from the prior week’s unrevised average.

Moreover, Continuing Jobless Claims went down by 29K to reach 1.879M for the week ending April 26.

Market reaction

The Greenback keeps its upside momentum in place on Thursday, hovering around the 100.00 zone, building from Wednesday’s gains.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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