US Unemployment Claims Drop before NFP

The number of Americans filing new claims for unemployment benefits fell last week, pointing to moderate job growth despite slowing economic activity.

Initial claims for state unemployment benefits declined 11,000 to a seasonally adjusted 346,000, the Labor Department said on Thursday. Claims for the prior week were revised to show 3,000 more applications received than previously reported.

Economists polled by Reuters had expected first-time applications to fall to 345,000 last week.

A Labor Department analyst said no states had been estimated and there was nothing unusual in the state-level data. Last week’s data included the Memorial Day holiday and claims typically fall around this time of the year.

via Reuters

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.