US: Weekly Initial Jobless Claims decline to 751K vs. 791K expected

Weekly Initial Jobless Claims in the US declined by 40,000 last week.
US Dollar Index clings to daily gains above 93.50 after the data.

Eren Sengezer FXStreet

There were 751,000 initial claims for unemployment benefits in the US during the week ending October 24th, the data published by the US Department of Labor (DOL) revealed on Thursday.

This reading followed last week's print of 791,000 (revised from 787,000) and came in slightly better than the market expectation of 775,000.

Market reaction

The US Dollar Index retreated modestly after this data and was last seen gaining 0.27% on the day at 93.68.

Additional takeaways

"The 4-week moving average was 787,750, a decrease of 24,500 from the previous week's revised average."

"The advance seasonally adjusted insured unemployment rate was 5.3% for the week ending October 17, a decrease of 0.5 percentage point from the previous week's revised rate."

"The advance number for seasonally adjusted insured unemployment during the week ending October 17 was 7,756,000, a decrease of 709,000 from the previous week's revised level."

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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