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Fundamental Forex Analysis

1.48 million Americans applied for unemployment benefits last week

  • Weekly Initial Jobless Claims came in slightly higher than the market expectation.
  • US stock index futures remain deep in the negative territory.

There were 1,480,000 Initial Claims for unemployment benefits in the US during the week ending June 20th, the data published by the US Department of Labor (DOL) revealed on Thursday.

This reading followed the previous week’s print of 1,540,000 (revised from 1.508,000) and came in slightly worse than the market expectation of 1,300,000.

Market reaction

The S&P 500 futures are down 0.7% on the day following this data, suggesting that Wall Street’s main indexes are likely to open the day in the negative territory.

Additional takeaways

“The 4-week moving average was 1,620,750, a decrease of 160,750 from the previous week’s revised average.”

“The advance seasonally adjusted insured unemployment rate was 13.4% for the week ending June 13, a decrease of 0.5 percentage point from the previous week’s revised rate.”

“The advance number for seasonally adjusted insured unemployment during the week ending June 13 was 19,522,000, a decrease of 767,000 from the previous week’s revised level.” 

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