Initial unemployment filings dropped last week, signaling labor market resilience amid Fed rate hike expectations.
US initial jobless claims declined to 226K for the week ending June 13, slightly above the 225K estimate but below the prior week’s revised 230K. The four-week moving average rose by 4K to 223.25K, reflecting a modest upward trend in recent filings.
The latest figures follow a revised prior print of 229K and come as markets assess the Federal Reserve’s hawkish stance on monetary policy. Continuing claims increased by 24K to 1.810M for the week ending June 6, suggesting some softening in long-term unemployment.
The US Dollar extended gains, with the DXY index climbing to near 100.80, as traders priced in potential Fed rate hikes later this year.