Prior week 222k revised to 223K.Initial jobless claims 243K vs. 230K estimate. Highest since August of last year.4-week moving average of initial jobless claims 234.75K vs 233.75K last weekprior week continuing claims 1.852M revised to 1.847M.Continuing claims 1.867M vs 1.855M estimate. This is the 6th week above 1.800M. Highest since November 2021.4-week moving average of continuing claims 1.851M vs 1.839M last week.
This week is the survey week for the BLS employment report to be released at the start of the next month.
The data this week should be less influenced by faulty seasonals as a result of the July 4 holiday. As a result, it should be more reflective of the trends in the employment (all things being equal). THe move to the upside in both the initial and continuing claims is suggestive of a weaker employment picture.
This article was written by Greg Michalowski at www.forexlive.com.
