- Initial claims for US jobless benefits decreased by 9,000 in the week ending December 28.
- The Dollar Index posts strong gains above 108.50 following the data.
There were 211,000 initial claims for unemployment benefits in the week ending December 28, weekly data released by the US Department of Labor (DOL) on Thursday showed. This figure followed the previous week’s reading of 220,000 and was better than the market expectation of 222,000.
Further details from the release revealed that the seasonally adjusted insured unemployment rate was 1.2% and the 4-week moving average stood at 223,250, a decrease of 3,500 from the previous week’s revised average.
“The seasonally adjusted advance insured unemployment number for the week ending December 21 was 1,844,000, a decrease of 52,000 from the previous week’s revised level,” the DOL noted in its news release.
Market reaction
The US Dollar Index continues to rise and was last seen trading at its highest level since November 2022 at 108.85, up 0.35% on the day.
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.
