FX.co ★ US Initial Jobless Claims Rise More than Expected

In the final week of January, initial jobless claims in the United States increased by 22,000 from the preceding week, reaching a total of 231,000. This figure significantly surpassed market predictions of 212,000 and marked the most substantial rise in initial claims in nearly two months. Meanwhile, continuing claims experienced an uptick of 25,000, climbing to 1,844,000 in the previous week, following a drop to the lowest point since September 2024 midway through the month. Despite indications of a slight softening, the data suggests that the US labor market continues to exhibit a trend of both low firing and low hiring rates.