FX.co ★ US Jobless Claims Rise More than Expected to 9-Week High

In the week concluding on April 26, initial jobless claims in the United States surged by 18,000, reaching 241,000, marking the highest figure since February and notably surpassing market predictions of 224,000. When viewed on a non-seasonally adjusted basis, claims rose by 12,901 to a total of 223,614, with significant increases observed in New York (+15,525) and Massachusetts (+3,251). Concurrently, the number of continuing unemployment claims climbed by 83,000, reaching 1,916,000 for the week ending April 19, the highest since November 2021 and exceeding market forecasts of 1,860,000. Claims filed under Federal government employee programs—scrutinized due to recent Department of Government Efficiency (DOGE) layoffs—dropped by 187 to 470. Although this number is relatively low, many layoffs by DOGE included severance packages, delaying the ability for affected employees to immediately claim benefits.