04.09.202512:37:33UTC+00US Initial Jobless Claims Rise to Over 2-Month High

In late August, initial jobless claims in the United States experienced an increase of 8,000 from the prior week, reaching a total of 237,000. This figure marks the highest in over two months and surpasses market expectations, which predicted a slight rise to 230,000. Concurrently, the number of ongoing unemployment claims declined for the second consecutive week, totaling 1,940,000. This is the lowest level in five months and falls short of the anticipated 1,960,000, although it remains considerably higher than the averages observed before April. Despite the cessation in the decrease of continuing claims, the data continues to signal a weakening labor market, aligning with the Federal Reserve's view that a worsening employment scenario might justify reduced interest rates. Additionally, initial claims filed by federal government employees, which are being closely monitored as initial layoffs by the Department of Government Employees (DOGE) reach the end of their severance period, decreased by 73 to 515.