The US Department of Labor reported Initial Jobless Claims rose to 217,000 for the week ending November 8, beating the market consensus of 223,000 but a little lower than the prior week's 221,000 tally. The four-week moving average also slipped to 221,000, pointing to labor markets that have generally continued to steady out amid volatility.
Continuing Claims, which calculate the number of jobless benefit recipients on an ongoing basis, fell 11,000 to 1.873 million for the week ended November 1. The insured jobless rate stayed in a steady state at 1.2%, in signaling that job retention is stable everywhere in the economy.
Following the report, the US Dollar Index, or DXY, gave back some of its intra-day gains after reaching new yearly highs above the 107.00 level earlier in the day. Investors' attention keeps staying on resilience from the labor market and the implications for future decisions by the Federal Reserve.
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