FX.co ★ US Jobless Claims Edge Higher as Expected

In the third week of April, initial jobless claims in the United States increased by 6,000 to a total of 222,000, aligning with market forecasts and staying close to the two-month low recorded in the preceding period. Meanwhile, continued jobless claims dropped by 37,000 to reach 1,841,000 in the second week of April, marking a two-month low as well and falling short of market expectations which had projected a rise to 1,880,000. These figures signal a persistently robust labor market in the U.S., maintaining the momentum observed in the latest employment report. Claims for unemployment benefits from federal government employees, closely watched due to layoffs by the Department of Government Efficiency (DOGE), slightly rose by 87 to 629. Although the number remains relatively low, reports indicate that many DOGE layoffs included severance packages, which prevent immediate eligibility for unemployment benefits.