US: Weekly Initial Jobless Claims declined by 130,000 to 881,000
- 3rd September 2020
- Posted by: Hakeem
- Category: FUNDAMENTAL ANALYSIS
- Initial Jobless Claims in US declined by 130,000 last week.
- US Dollar Index drops below 93.00, stays in the positive territory.
There were 881,000 Initial Claims for unemployment benefits in the US during the week ending August 29th, the data published by the US Department of Labor (DOL) revealed on Thursday.
This reading followed last week’s print of 1,006,000 (revised from 1,011,000) and came in slightly better than the market expectation of 950,000.
The US Dollar Index edged slightly lower but continues to cling to strong daily gains. As of writing, the index was up 0.3% on the day at 92.94.
“The 4-week moving average was 991,750, a decrease of 77,500 from the previous week’s revised average.”
“The advance seasonally adjusted insured unemployment rate was 9.1% for the week ending August 22, a decrease of 0.8 percentage point from the previous week’s unrevised rate.”
“The advance number for seasonally adjusted insured unemployment during the week ending August 22 was 13,254,000, a decrease of 1,238,000 from the previous week’s revised level.”