US weekly initial jobless claims 227K vs 242K expected

• Prior was 241K (revised to 242K)
• Continuing claims 1897K vs 1875K expected
• Prior continuing claims 1867K (revised to 1869K)

This is better than economists were expecting, though continuing claims are now at the highest since November 2021.

• Michigan saw the largest drop (-7,917) due to fewer manufacturing layoffs
• Georgia posted the biggest increase (+3,293), citing layoffs across manufacturing, healthcare, and food services
• Florida (-3,257) reported fewer layoffs across multiple sectors including agriculture, construction, and retail, very likely due to the rebound from the hurricane
• New York saw a notable increase (+2,340) driven by transportation, warehousing, and public admin layoffs

This article was written by Adam Button at www.forexlive.com.