The number of initial jobless claims in the United States has increased, leading to a decline in U.S. Treasury yields and the dollar
ChainCatcher news, according to Jinshi reports, data from the U.S. Department of Labor shows that the number of initial jobless claims increased last week. The number of initial jobless claims in the U.S. for the week ending November 30 was recorded at 224,000, compared to 215,000 the previous week. Economists surveyed by the Wall Street Journal had previously expected the number of initial jobless claims for the most recent week to be 215,000. Meanwhile, the number of people continuing to receive unemployment benefits fell to 1.87 million, down from 1.90 million the previous week. The data indicates that while initial jobless claims have risen, they remain relatively stable. The November employment report will be released on Friday. Analysts expect that after the October employment data was affected by hurricanes and the Boeing strike, the November employment report will show a significant recovery in employment.After the U.S. initial jobless claims data suggested a potential softening in the labor market, U.S. Treasury yields lost some momentum, and the dollar weakened, which strengthened the case for a Federal Reserve rate cut. Last week's initial jobless claims were 224,000, higher than the expected 215,000. The non-farm payroll numbers for November, expected to be released tomorrow, are projected to jump from 120,000 in October to 214,000. The trade deficit for October narrowed to $73.8 billion, in line with expectations. The 10-year U.S. Treasury yield stood at 4.208%, while the 2-year yield was at 4.161%, both higher than yesterday.