US Unemployment Claims Rise But Job Market Still Strong

The number of Americans filing for unemployment benefits rose more than expected last week, but remained below a level that is associated with a strong labor market.

Initial claims for state unemployment benefits increased 13,000 to a seasonally adjusted 260,000 for the week ended Oct. 15, the Labor Department said on Thursday.

That marked 85 straight weeks of claims below the 300,000 threshold normally associated with a strong jobs market, the longest such period since 1970, when the labor market was much smaller.

Economists had forecast first-time applications for jobless benefits rising to 250,000 in the latest week.

U.S. financial markets were little moved by the data.

via Reuters

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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