US Jobless claims reported at 631,000

The number of unemployed workers filing claims came in lower than expected at 631,000, which shows a reduction of 14,000 from the previous weeks data. The pace of job losses appears to be slowing down as consumer spending rises in the United States.

However it is important to point out that while the number of people filing for unemployment benefits has been reduced from the previous week, the people staying on the benefits has increased by 133,000 to reach a 6.271 million.

The Labor Department will release the NFP report on May 8th, and after the claims reduction could come in lower than forecasted as well.

Fore more US and International employment data check FXEconostats

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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