US: Weekly Initial Jobless Claims rise to 229K vs. 210K expected

Weekly initial jobless claims rose to 229K, above expected.
Currency markets did not react, given they are more focused on the ECB right now.

Joel Frank Independent Analyst

There were 229,000 initial jobless claims in the week ending on 4 June, above the prior week's reading of 202,000 and expectations for a rise to 210,000. That pushed the four-week average higher to 215,000 from 207,000 a week earlier.

Continued jobless claims in the US in the week ending 28 May remained unchanged versus one week earlier at 1.306M, almost bang in line with market expectations. That meant the insured unemployment rate remained unchanged at 0.9%.

Market Reaction

Currency markets did not react to the latest US weekly jobless claims figures and are instead much more focused on the ECB right now.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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