US Unemployment Claims 365,000 up 8,000 from previous week

First-time claims for unemployment benefits rose slightly last week.
About 365,000 people filed jobless claims in the week ended July 28, up 8,000 from the previous week, the Bureau of Labor Statistics said Thursday.

Jobless claims are closely correlated with layoffs and are seen as a key gauge of the strength of the job market.
It’s unclear whether last week’s slight rise is a negative sign for the job market, given initial claims have been more volatile than usual lately. Economists often prefer to look at a four-week moving average to smooth out the volatility, and this measure has been falling.

Jobless claims are closely correlated with layoffs and are seen as a key gauge of the strength of the job market.
It’s unclear whether last week’s slight rise is a negative sign for the job market, given initial claims have been more volatile than usual lately. Economists often prefer to look at a four-week moving average to smooth out the volatility, and this measure has been falling.

via CNN

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza