Forex▲ Bullish
US Jobless Claims Drop to 187k, Dampening Rate-Cut Hopes
Continuing claims fell alongside the headline print. Economists said the labor market shows no sign of cracking. The dollar rallied, and short-term Treasury yields rose.
Continue with
US jobless claims dropped to 187,000 in the week ended July 18, the lowest reading since early 2023. The print undershot the 212,000 consensus estimate by a wide margin. The prior week's figure was revised up to 209,000 from 208,000. The four-week moving average fell to 207,500, down 7,250 from the previous week.
Continuing claims edged down to 1.796 million in the week ended July 11, a drop of 2,000. The insured unemployment rate held steady at 1.2%. The four-week average of continuing claims also declined. Layoffs remain scarce, and workers who lose their jobs are finding new ones without long gaps, economists said.