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US: Initial jobless claims fall, yet less than expected; continuing jobless claims beat expectations

By FXstreet.com,  May 06, 2010, 08:37:00 AM EDT

FXstreet.com (Barcelona) - Initial jobless claims fell by 7K in the week ending May 1 reaching 444K. However the fall was less than analysts' expectations of 11K. Continuing jobless claims beat expectations and fell 59K reaching 4594K. Analysts had predicted a more modest decline reaching 4610K.

The Initial Jobless Claims released by the US Department of Labor is a measure of the number of people filing first-time claims for state unemployment insurance. In other words, it provides a measure of strength in the labor market. A larger than expected number indicates weakness in this market which influences the strength and direction of the US economy. Generally speaking, a decreasing number should be taken as positive or bullish for the USD.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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