United States Initial Jobless Claims

Initial jobless claims in the US fell by 9,000 from the previous week to 198,000 on the week ending January 10th, contrasting with market expectations of an increase to 215,000, to mark the second-lowest reading in two years. In the meantime, continuing claims fell to by 19,000 to 1,884,000 at the turn of the year, in line with market expectations, to extend the decreasing trend since October, albeit remaining above averages since 2022. The result continued to reflect a labor market that has low firing and relatively low hiring. In the meantime, initial unemployment claims from federal employees, which have been under scrutiny as markets measure the impact of the US government shutdown, rose by 170 to 646.