- Initial claims for unemployment benefits increased by 215,000 compared to the previous week.
- Applications for continued unemployment benefits increased by almost 1.8 million.
The number of U.S. citizens filing for unemployment insurance benefits increased by 215,000 in the week ending May 18, the U.S. Department of Labor (DoL) reported Thursday. The figure was lower than initial estimates (220,000) and the previous weekly rise of 223,000 (revised from 232,000).
Other details from the release revealed that the advance seasonally adjusted insured unemployment rate was 1.2% and the 4-week moving average stood at 219.75, an increase of 1,750 from the previous week's revised average.
Additionally, continuation claims increased by 8,000 to 1.794 million in the week ending May 11.
Market reaction
The US Dollar Index (DXY) maintains its negative bias so far on Thursday, pressured after reaching multi-day highs near the 105.00 barrier in the previous session. The corrective decline in the Dollar also occurs amid mixed behavior in US yields across the curve.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
