United States Initial Jobless Claims

Initial jobless claims in the US inched lower by 5,000 from the eight-week high on the previous week to 229,000 on the period ending August 23rd, marginally lower than market expectations of 230,000. In the meantime, outstanding jobless claims fell by 7,000 from the near three-year high on the prior week to 1,954,000. The results did not reflect an accelerating deterioration in the US labor market, but held the lingering concern of softening amid slower hiring. Initial claims filed by federal government employees, which have been under scrutiny following recent dismissals by the Department of Government Efficiency (DOGE), fell by 54 from the four-month high in the earlier week to 581.