US: Weekly Initial Jobless Claims climb to 742K vs. 707K expected

• Weekly Initial Jobless Claims in the US rose by 31,000 last week.
• US Dollar Index posts small daily gains near 92.60.

There were 742,000 initial claims for unemployment benefits in the US during the week ending November 14th, the data published by the US Department of Labor (DOL) revealed on Thursday.

This reading followed last week's print of 711,000 (revised from 709,000) and came in worse than the market expectation of 707,000.

Market reaction

The US Dollar Index edged slightly higher after this data and was last seen posting small daily gains at 92.60.

Additional takeaways

"The 4-week moving average was 742,000, a decrease of 13,750 from the previous week's revised average."

"The advance seasonally adjusted insured unemployment rate was 4.3% for the week ending November 7, a decrease of 0.3 percentage point from the previous week's unrevised rate."

"The advance number for seasonally adjusted insured unemployment during the week ending November 7 was 6,372,000, a decrease of 429,000 from the previous week's revised level."