FX.co ★ US Initial Jobless Claims Hold Near 8-Week High

Initial jobless claims in the US edged down by 5,000 from the previous week to 227,000 in the first reading for February, coming in above market expectations of 222,000 and holding near the eight-week high reached after an upward revision to the prior period. In line with this, continuing claims increased by 21,000 to 1,862,000 in January, following a drop to their lowest level since September 2024 midway through the month. The latest rise is still largely attributed to business disruptions caused by a series of winter storms across multiple regions of the country, which led more households to file for unemployment benefits. Initial claims from federal employees—closely watched as markets assess the impact of the US government shutdown—rose by 47 to 615.