US Unemployment Claims Fall More than Expected
Initial jobless claims in the US fell by 7,000 from the previous week to 213,000 on the first week of February, below market expectations of 215,000.
In the meantime, recurring claims fell by 36,000 to 1,850,000 in the last week of January, firmly below market expectations of 1,880,000, to extend the drop from the over three-year high touched earlier in the month.
The data continued to show robustness in the US labor market, in line with the Federal Reserve’s rhetoric that that there is no rush to continue cutting interest rates.
Source: Trading Economics