American weekly jobless claims show the lowest result since 1969

American weekly jobless claims show the lowest result since 1969

The previous week, the number of US citizens who filed applications for unemployment benefits headed south to a 49-1/2-year minimum, thus indicating sustained labor market strength, which could tame expectations of a steep deceleration in the economic surge.

As a matter of fact, initial claims for state unemployment benefits inched down 8,000 to a seasonally updated 196,000 by April 6 that appears to be the lowest outcome since October 1969. Apparently, claims have slipped for four weeks in a row. As for data for the previous week, it was updated to reveal extra 2,000 applications.

Market experts had foreseen claims would jump to 211,000 for the last week. As the Labor Department informed, no states were assessed the previous week.

The four-week moving average of initial claims, a gauge of labor market trends, headed south 7,000 the previous week hitting 207,000, which appears to be the lowest result since early December 1969.

Eventually, the labor market happens to be the key pillar of support for the US economy that turns out to have lost momentum in the first quarter due to the fact the stimulus from a $1.5 trillion tax trim package recedes and a trade conflict between America and China as well as softening global demand affected exports.

As for nonfarm payrolls, they inched up by 196,000 jobs in March, which is above the 100,000 required per month to keep up with surge in the working-age population. Additionally, the unemployment rate accounts for 3.8%, which is close to the 3.7% Fed policy makers project by the end of 2019.

 

Similar

Market updates on August 15

The risk sentiment remains under pressure after the comments by China about the countermeasures against the US tariffs. Thus, the AUD/USD and the USD/JPY pairs will be under our attention.

Latest news

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera