FX.co ★ US Initial Jobless Claims Rise as Expected

Initial jobless claims in the United States increased by 8,000 to a total of 208,000 for the week ending January 3rd, aligning closely with market predictions of 210,000. This figure remains well below last year's average. Concurrently, continuing jobless claims increased by 56,000 to 1,914,000 for the prior period, exceeding market predictions of 1,900,000. The low level of initial jobless claims, juxtaposed with the elevated number of ongoing unemployment claims, suggests that while the US labor market experiences a sluggish hiring pace, the rate of job separations remains steady. Additionally, first-time unemployment claims submitted by federal employees decreased by 333 to 479 in the last week of December, a statistic closely monitored in light of the recent federal government shutdown.