US: Weekly Initial Jobless Claims decline to 837K vs. 850K expected

• Initial Jobless Claims in the US declined by 36,000 last week.
• US Dollar Index remains depressed near 93.50 after the data.

There were 837,000 initial claims for unemployment benefits in the US during the week ending September 26th, the data published by the US Department of Labor (DOL) revealed on Thursday.

This reading followed last week’s print of 873,000 (revised from 870,000) and came in slightly worse than analysts’ estimate of 850,000.

Market reaction

The greenback struggles to recover its losses after this data. As of writing, the US Dollar Index was down 0.26% on a daily basis at 93.56.

Additional takeaways

“The 4-week moving average was 867,250, a decrease of 11,750 from the previous week’s revised average.”

“The advance seasonally adjusted insured unemployment rate was 8.1% for the week ending September 19, a decrease of 0.6 percentage point from the previous week’s revised rate.”

“The advance number for seasonally adjusted insured unemployment during the week ending September 19 was 11,767,000, a decrease of 980,000 from the previous week’s revised level.”