FX.co ★ US Initial Unemployment Claims Fall for 4th Week

In early July, initial jobless claims in the United States decreased by 5,000 from the previous week, reaching a total of 227,000. This figure surpassed market expectations, which had forecasted a rise of 2,000 to reach 235,000. Marking the fourth consecutive week of declines, this drop culminated in the lowest count in seven weeks, reinforcing the perception that the U.S. labor market is remaining relatively strong despite high interest rates and economic uncertainties. However, continuing unemployment claims increased by 10,000 to a total of 1,965,000, the highest since 2021, underscoring concerns about a slowdown in hiring. Additionally, initial claims filed by federal government employees—under scrutiny after recent layoffs by the Department of Government Efficiency (DOGE)—decreased by 15, reaching 438 in the final week of June, matching the lowest level since December 2024.