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Jobless claims in the United States rebounded in the past week, marking the highest level in 16 weeks.
Source: US Labor Department
DXY is down 0.84%, while Gold is up 1.33%.
Seasonally adjusted initial claims for the week ending May 14 increased by 21,000 to 218,000 from the previous week’s downward revised 197,000. This is the highest since the 222,000 in the week ending January 22, 2022.
The advance seasonally adjusted insured unemployment rate for the week ending May 7 increased by 0.1 percentage points to 0.9%. Insured unemployment for the week fell by 25,000 to 1.317 million from the previous week.
The biggest jumps in initial claims for the week were recorded in California, Ohio, Texas, Arkansas, and Iowa. The steepest declines were in New York, Kentucky, Indiana, Florida, and Massachusetts.
The four-week moving average for initial claims ending May 14 was 199,500, indicating an increase of 8,250 from the previous week’s downward revised average of 191,250.
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