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Unemployment Claims increased more than expected

Thursday, May 12 2016
In the week ending May 7, the advance figure for seasonally adjusted initial claims was 294,000, an increase of 20,000 from the previous week's unrevised level of 274,000. Analysts were expecting smaller increase to 277,000. This is the highest level for initial claims since February 28, 2015 when it was 310,000. The 4-week moving average was 268,250, an increase of 10,250 from the previous week's unrevised average of 258,000. This marks 62 consecutive weeks of initial claims below 300,000, the longest streak since 1973. 
The advance seasonally adjusted insured unemployment rate was 1.6% for the week ending April 30, unchanged 
from the previous week's revised rate. The advance number for seasonally adjusted insured unemployment during the week ending April 30 was 2,161,000, an increase of 37,000 from the previous week's revised level. This is the highest level for insured unemployment since April 2, 2016 when it was 2,176,000. The 4-week moving average was 2,137,250, a decrease of 3,750 from the previous week's revised average. This is the lowest 
level for this average since November 11, 2000 when it was 2,119,750. 
 
Euro is currently being traded few points above 1.14 level, Sterling is around 1.45 handle, while Aussie is at 0.7350 area.
More in this category: « BoE left interest rates at record low Aussie lower in an overnight trade »

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