US Initial Jobless Claims 219,000 Exceed Expectations

Continuing Claims Also Exceed Expectations, Reaching 1.886 Million

Last week, the number of new unemployment benefit claims in the United States exceeded market expectations.

According to the U.S. Department of Labor on the 6th (local time), the number of new unemployment benefit claims for the week of January 26 to February 1 was recorded at 219,000, an increase of 11,000 from the revised figure of 208,000 the previous week. This was also 5,000 higher than the expert forecast of 214,000.

The number of continuing unemployment benefit claims, which are claims filed for at least two weeks, stood at 1,886,000 for the week of January 19 to 25. This was 36,000 higher than the revised figure of 1,850,000 the previous week and 16,000 above the market forecast of 1,870,000.

The U.S. Federal Reserve (Fed) temporarily paused its monetary easing cycle last month and is monitoring the labor market and inflation situation.