US Weekly Jobless Claims Improve Set Tone for NFP

The number of Americans filing new claims for unemployment benefits fell slightly more than expected last week, pointing to labor market resilience despite moderate economic growth.
Initial claims for state unemployment benefits dropped 8,000 to a seasonally adjusted 276,000 for the week ended May 30, the Labor Department said on Thursday.

Claims for the prior week were revised to show 2,000 more applications received than previously reported.

It was the 13th straight week that claims held below the 300,000 threshold, which is usually associated with a strengthening labor market.

Economists polled by Reuters had forecast claims falling last week to 279,000. Last week’s claims data included the Memorial Day holiday, but a Labor Department analyst said that had not had an impact on the data.

via CNBC

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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 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