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U.S. jobless claims on the rise

EURUSD News by Newsroom on 09:25 May 24, 2018 EST
The number of first-time claims for U.S. unemployment benefits increased for the second consecutive week according to the Labor Department in a report released on Thursday.

Initial jobless claims rose to 234,000 in the week ended May 19th, 11,000 above the previous week's revised level of 223,000.

The increase unexpected as the consensus expectation was for jobless claims to decrease to 220,000 from the 222,000 originally reported for the previous week.

The report said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also increased by 29,000 to 1.741 million in the week ended May 12th.

The Non Farm payroll report due on the first day of June will provided further clues as to where employment in the US is heading.

Both the dollar and stock indices were unaffected by the news release on Thursday trading.