- Weekly Initial Jobless Claims in the US increased by 45,000.
- US Dollar Index clings to recovery gains around 91.70.
There were 770,000 initial claims for unemployment benefits in the US during the week ending March 11, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 725,000 (revised from 712,000) and missed the market expectation of 700,000 by a wide margin.
Market reaction
The US Dollar Index preserves its bullish momentum after this report and was last seen gaining 0.33% on the day at 91.74.
Additional takeaways
“The 4-week moving average was 746,250, a decrease of 16,000 from the previous week’s revised average.”
“The advance seasonally adjusted insured unemployment rate was 3.0% for the week ending March 6, an increase of 0.1 percentage point from the previous week’s unrevised rate.”
“The advance number for seasonally adjusted insured unemployment during the week ending March 6 was 4,124,000, a decrease of 18,000 from the previous week’s revised level.”
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