Prior week 238K revised to 239KInitial jobless claims 222K vs 236K estimate4-week MA of initial jobless claims 233.5K vs 238.75K last week Continuing claims 1.852M vs 1.860M est.Prior week continuing claims 1.858M revised to 1.856M4 week moving average continuing claims 1.840M vs 1.831M last week
The data is still consistent with a solid jobs market.
Over his two-day testimony on Capitol Hill chair Powell commented on a couple occasions, that the labor market has cooled considerably, but that it remains strong. Nevertheless, he thought employment wasn’t a large contributor to inflationary pressures.
This article was written by Greg Michalowski at www.forexlive.com.
