- Initial Jobless Claims rose by 222K vs. the previous week.
- Continuing Jobless Claims increased by around 1.850M.
US citizens that applied for unemployment insurance benefits increased by 222K in the week ending July 6 according to the US Department of Labor (DoL) on Thursday. The prints came in below initial estimates (236K) and were lower than the previous weekly gain of 239K (revised from 238K).
Further details of the publication revealed that the advance seasonally adjusted insured unemployment rate was 1.2% and the 4-week moving average was 233.50K, a drop of 5.250K from the previous week’s revised average.
In addition, Continuing Claims decreased by 4K to 1.852M in the week ended June 29.
Market reaction
The US Dollar Index (DXY) breaks below 105.00 and plummets to fresh lows near 104.20 against the backdrop of an equally strong retracement in US yields across the curve.
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