The number of Americans filing for unemployment insurance rose to 258,000 in the week ending October 4, according to a report from the US Department of Labor (DoL) on Thursday. This figure surpassed market expectations of 230,000 and marked an increase from the previous week’s 225,000 claims.
The report also indicated that the seasonally adjusted insured unemployment rate held steady at 1.2%. The four-week moving average of claims, a more stable indicator of labor market trends, rose to 231,000, an increase of 6,750 from the prior week’s unrevised average.
Additionally, continuing unemployment claims climbed by 42,000 to reach 1.861 million for the week ending September 27, signaling a potential softening in the labor market.
Market Reaction Following the data release, the US Dollar Index (DXY) edged slightly higher, trading around the 103.00 level.
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