FOREX TradingCharts.com

Financial News: U.S. Weekly Jobless Claims Unexpectedly Edge Slightly Lowe

U.S. Weekly Jobless Claims Unexpectedly Edge Slightly Lower

03/28/2024 - 09:56:00 (RTTNews)

(RTTNews) - First-time claims for U.S. unemployment benefits unexpectedly edged slightly lower in the week ended March 23rd, according to a report released by the Labor Department on Thursday.

The report said initial jobless claims dipped to 210,000, a decrease of 2,000 from the previous week's revised level of 212,000.

Economists had expected jobless claims to rise to 215,000 from the 210,000 originally reported for the previous week.

The Labor Department said the less volatile four-week moving average also edged down to 211,000, a decrease of 750 from the previous week's revised average of 211,750.

Meanwhile, the report said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, rose by 24,000 to 1.819 million in the week ended March 16th.

The four-week moving average of continuing claims also crept up to 1,802,750, an increase of 3,500 from the previous week's revised average of 1,799,250.

"On a trend basis, continued claims are up about 8% y/y, suggesting unemployed individuals are finding it a touch more difficult to obtain new jobs," said Nancy Vanden Houten, Lead U.S. Economist at Oxford Economics.

She added, "The Fed doesn't require significant weakening in the labor market to begin cutting interest rates but does need to be confident the job market is balanced enough to support a continued slowing in wage growth."

Next Friday, the Labor Department is scheduled to release its more closely watched report on employment in the month of March.

Economists currently expect employment to jump by 200,000 jobs in March after surging by 275,000 jobs in February, while the unemployment rate is expected to hold at 3.9 percent.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Malaysian Economic Growth Fastest In A Year (05 hr(s), 06 min(s), 16 sec(s) ago)
(RTTNews) - Malaysia's economic expansion accelerated in the first quarter, driven by positive ...Full Story»

Greece Current Account Deficit Widens (05 hr(s), 49 min(s), 16 sec(s) ago)
(RTTNews) - Greece's current account deficit increased in February from a year ago due to a de ...Full Story»

Spain Trade Gap Narrows Slightly (06 hr(s), 41 min(s), 16 sec(s) ago)
(RTTNews) - Spain's foreign trade deficit decreased somewhat in February from a year ago as im ...Full Story»

UK Retail Sales Stable In March (08 hr(s), 14 min(s), 16 sec(s) ago)
(RTTNews) - UK retail sales were unchanged on a month-on-month basis in March, defying expectation ...Full Story»

Italy Construction Output Falls 3.9% (08 hr(s), 28 min(s), 16 sec(s) ago)
(RTTNews) - Italy's construction output decreased for the first time in five months in Februar ...Full Story»

German Producer Prices Fall At Slower Pace In March (10 hr(s), 29 min(s), 16 sec(s) ago)
(RTTNews) - Germany's producer prices continued to decline in March, though at the slowest pac ...Full Story»

Japan Inflation Data Due On Friday (56 min(s), 44 sec(s) ago)
(RTTNews) - Japan will on Friday release March national figures for consumer prices, highlighting ...Full Story»

Treasury Reveals Details Of Two-Year, Five-Year & Seven-Year Note Auctions (37 min(s), 16 sec(s) ago)
(RTTNews) - The Treasury Department on Thursday announced the details of this month's auctions ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Malaysian Economic Growth Fastest In A Year

04/19/2024 - 08:00 AM (RTTNews)
(RTTNews) - Malaysia's economic expansion accelerated in the first quarter, driven by positive ...Full Story>>

Greece Current Account Deficit Widens

04/19/2024 - 07:17 AM (RTTNews)
(RTTNews) - Greece's current account deficit increased in February from a year ago due to a de ...Full Story>>

Spain Trade Gap Narrows Slightly

04/19/2024 - 06:25 AM (RTTNews)
(RTTNews) - Spain's foreign trade deficit decreased somewhat in February from a year ago as im ...Full Story>>

UK Retail Sales Stable In March

04/19/2024 - 04:52 AM (RTTNews)
(RTTNews) - UK retail sales were unchanged on a month-on-month basis in March, defying expectation ...Full Story>>

Italy Construction Output Falls 3.9%

04/19/2024 - 04:38 AM (RTTNews)
(RTTNews) - Italy's construction output decreased for the first time in five months in Februar ...Full Story>>

Do not sell my personal information

Copyright © 2024. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.