Initial jobless claims in the United States edged modestly higher for the week ending May 25th, according to data released by the Department of Labor [U.S. Department of Labor Initial Claims]. The seasonally adjusted figure came in at 219,000, a rise of 3,000 from the previous week’s revised level of 216,000.
What Does This Mean for the Economy?
While a slight increase, this week’s claims remain near historically low levels. The four-week moving average, which helps smooth out week-to- week fluctuations, also ticked up slightly to 222,500. However, it’s important to note that this figure is still lower than the readings seen a year ago.
Bullish or Bearish for the Dollar?
Economists generally view rising jobless claims as a sign of weakness in the labor market. This can, in turn, put downward pressure on the US dollar (USD). However, the recent increase is minor, and the overall trend in claims remains positive.
Key Takeaways:
- US initial jobless claims rose slightly to 219,000 for the week ending May 25th.
- The four-week moving average is still lower than year-ago levels.
- The impact on the USD is likely muted due to the small increase.
Stay Informed:
For the latest updates on US unemployment claims and other economic data, be sure to check the following resources:
- US Department of Labor [U.S. Department of Labor Initial Claims]
- Investing.com https://www.investing.com/economic-calendar/initial-jobless-claims-294
- FXStreet https://www.fxstreet.com/economic-calendar/event/b5552511-7860-4a69-ac5a-ec211e925762
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