US Jobless Claims Rose Above Expectations Last Week

The number of Americans filing new claims for unemployment rose more than expected last week, but the underlying trend remained consistent with a strengthening labor market.

Initial claims for state unemployment benefits increased 25,000 to a seasonally adjusted 304,000 for the week ended Feb. 7, the Labor Department said on Thursday.

The prior week’s data was revised to show 1,000 more applications received than previously reported. Economists polled by Reuters had forecast claims rising to 285,000 last week.

 
A Labor Department analyst said the department had estimated claims for Massachusetts because of a snowstorm that had closed offices in the state. While Massachusetts later submitted claims data, the figures were not very different from the department’s estimate.

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 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
Alfonso Esparza

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