US Weekly Jobless Claims Rise 5k to 239k

The Department of Labor reported 239,000 new jobless claims were filed during the week ending February 11. This is an increase of 5,000 from the prior week’s unrevised level of 234,000. The data was better than the analyst consensus estimate for 245,000 new claims, according to a Thomson Reuters survey.

Smoothing out week-to-week volatility, the four-week moving average rose 500 to 245,250 from last week’s average of 244,750 (revised up from 244,250).

Individuals continuing to receive unemployment benefits as of the week ending February 4 fell by 3,000 to 2.076 million from the prior week’s upwardly revised level of 2.079 million (from 2.078 million). Analysts were looking for a lower figure of 2.051 million.

Markets at a Glance

The ICE US Dollar Index is lower on the day by 0.38% to 100.71. The S&P 500 futures are currently trading lower by 5 points, or -0.21%, to 2345.5. Gold is higher by 0.29% to $1,237 per ounce, while WTI crude oil futures are higher by 0.59% to $53.11 per barrel.

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Paul is a market analyst for EconomicCalendar.com with over 7 years of experience trading forex and 20 in the financial industry. He provides actionable analysis combining both the fundamental and technical aspects of an asset. Paul specializes in indices, commodities and forex. He received his Bachelor’s degree in economics and government at Hobart College.

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