Initial jobless claims rose more than expected last week

• Initial jobless claims rose to 230,000, up from 228,000 the previous week.
• Continuous jobless claims rose to 1.850 million in the week ended August 31.

US citizens who newly applied for unemployment insurance benefits reached 230,000 in the week ended September 7, according to the US Department of Labor (DoL) on Thursday. Prints came in above the initial consensus (227K) and were slightly higher than the previous weekly figure of 228K (revised from 227K).

Further details of the publication showed that the advance seasonally adjusted insured unemployment rate was 1.2% and the 4-week moving average was 230.75 thousand, an increase of 0.500 thousand from the previous week’s revised average.

In addition, continuing claims increased by 5,000 to 1,850,000 in the week ended August 31.

Market reaction

The US Dollar Index (DXY) remains under downward pressure and is hovering around the 101.60 region following the release.