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US initial jobless claims broken down - Nomura

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Guatemala) - Analysts at Nomura noted the US data overnight and offered a break-down of the initial jobless claims.

    " Initial jobless claims were 293k in the week ending 16 January, a 10k increase from the prior week's revised figure of 283k (previously reported as 284k). This week’s initial claims data cover the BLS survey reference week."

    "This marks the third consecutive month that claims have increased and the highest level since the first week of July. The pickup in claims raises prospects that labor market conditions are starting to deteriorate in response to the recent slowdown in economic activity.

    However, we would caution that claims data tend to be volatile in January and could return back to trend in a couple of weeks. But further increases in initial claims could be a sign that the weakness felt in the industrial sector is starting to bleed into other parts of the economy.

    For the week ending 9 January, continuing claims were 2208k, a 56k decline from the prior week's revised figure of 2264k (previously reported as 2263k) and a 2k increase from the previous BLS survey reference week."
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