US Initial Jobless Claims Unexpectedly Fall, Still Face Seasonal Adjustment Challenges

BlockBeats News, January 15th, According to data released by the US Department of Labor on Thursday, the number of Americans filing for initial unemployment claims unexpectedly fell to the lowest level since November last year last week, holding steady at a low level after holiday season volatility. As of the week ending January 10th, the number of initial jobless claims dropped by 9,000 to 198,000, below all expectations from economists surveyed by institutions. Institutional analysis believes that the unexpected decrease in initial claims likely reflects the continued challenges of year-end holiday and early-year seasonal data adjustment. There has been little change in labor market dynamics, with layoffs remaining low and hiring still slow. (FXStreet)