FX.co ★ US Initial Jobless Claims Inch Higher as Expected

In the first week of April, initial jobless claims in the United States increased by 4,000 from the previous week, reaching 223,000, aligning with market forecasts. These figures continue to reflect the historically low levels seen since March. Concurrently, continuing claims decreased by 43,000 to 1,850,000 in the last week of March, surpassing market expectations, which had anticipated 1,880,000. This decrease indicates a slight improvement in individuals securing employment after being unemployed. Additionally, unemployment claims submitted by Federal government employees, particularly monitored due to firings by the Department of Government Efficiency (DOGE), dropped by 56 to 508, the lowest since President Trump's tenure began. Despite this reduction, it is reported that severance packages accompanying many DOGE firings prevent affected employees from immediately claiming benefits.