US Jobless Claims Show Solid Recovery

January 28, 2016 Share Print 0

The number of Americans filing for unemployment benefits fell from a six-month high last week, suggesting the labor market recovery remains intact despite a sharp stock market sell-off and signs the economy has lost significant momentum.

Initial claims for state unemployment benefits dropped to a seasonally adjusted 278,000 in the week ended Jan. 23 from 294,000 the prior week, the Labor Department said on Thursday.

Economists polled by Reuters had forecast claims falling to 282,000 in the latest week. Claims have been volatile in recent weeks because of difficulties adjusting the figures to accounts for seasonal fluctuations.

via CNBC

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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.