Initial jobless claims rose more than expected last week

• Initial jobless claims rose to 258,000, up from 225,000 the previous week.
• Continuous jobless claims rose to 1.861 million in the week ended September 27.

US citizens who newly applied for unemployment insurance benefits reached 258,000 in the week ended October 4, according to the US Department of Labor (DoL) on Thursday. Impressions were above initial consensus (230K) and up from the previous weekly figure of 225K.

Further details of the publication revealed that the seasonally adjusted advance unemployment rate was 1.2% and the 4-week moving average was 231,000, an increase of 6,75,000 from the previous week’s unrevised average.

In addition, continuing claims rose 42,000 to 1,861,000 in the week ended September 27.

Market reaction

The US Dollar Index (DXY) is trading with slight gains around the 103.00 area after the US data release.