{"id":194420,"date":"2023-08-03T10:45:00","date_gmt":"2023-08-03T14:45:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=194420"},"modified":"2023-08-07T11:01:46","modified_gmt":"2023-08-07T15:01:46","slug":"unemployment-claims-tick-higher-ahead-of-fridays-jobs-report-treasury-yields-continue-to-rise","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/unemployment-claims-tick-higher-ahead-of-fridays-jobs-report-treasury-yields-continue-to-rise\/","title":{"rendered":"Unemployment Claims Tick Higher Ahead Of Friday&#8217;s Jobs Report: Treasury Yields Continue To Rise"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-zinger-key-points\">ZINGER KEY POINTS<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Jobless claims matched expectations last week, indicating a still-healthy labor market.<\/li>\n\n\n\n<li>Markets remained volatile following Thursday&#8217;s sell-off triggered by the downgrade of the United States&#8217; sovereign debt credit rating.<\/li>\n<\/ul>\n\n\n\n<p>The number of Americans filing for unemployment benefits slightly increased last week, reaching 227,000, aligning with economist predictions and indicating the&nbsp;<a href=\"https:\/\/www.benzinga.com\/topic\/labor-market\" target=\"_blank\" rel=\"noreferrer noopener\">U.S. labor market\u2019s continued resilience.<\/a><\/p>\n\n\n\n<p>The Department of Labor\u2019s latest report Thursday showed a marginal uptick of 6,000 claims from the previous week\u2019s 221,000 filings, meeting expectations.<\/p>\n\n\n\n<p>The update on jobless claims after came after ADP employment data for July revealed a substantial rise of 324,000 jobs, surpassing the anticipated 189,000, setting an optimistic tone&nbsp;<a href=\"https:\/\/www.benzinga.com\/economics\/macro-economic-events\/23\/08\/33519796\/us-private-sector-adds-324-000-jobs-in-july-surpassing-expectations-job-market-de\" target=\"_blank\" rel=\"noreferrer noopener\">ahead of the crucial jobs report on Friday<\/a>.<\/p>\n\n\n\n<p>Looking ahead, the consensus economists projections call for a slight dip in non-farm payrolls, from 209,000 in June to 200,000 in July. The unemployment rate is expected to remain stable at 3.6%, while wage growth is likely to ease slightly from 4.4% to 4.2%.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Key Highlights From Last Week&#8217;s Jobless Claims<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The number of Americans registering for jobless claims in the week ending July 29 rose from 221,000 to 227,000, as expected.<\/li>\n\n\n\n<li>The four-week moving average, which eliminates week-to-week variability, came in at 1,712,250, marking a decrease of 4,500 from the previous week\u2019s revised average.<\/li>\n\n\n\n<li>Continuing jobless claims for the week ended July 22 rose from the revised 1,679,000 to 1,700,000, matching expectations.<\/li>\n\n\n\n<li>Notable weekly increases were reported in Missouri, up 2,458 to 5,028. Noteworthy declines were found in California, down 2,386 to 41,341, and Ohio, down 2,958 to 18,500.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Market Reactions: Volatility Reigns Supreme<\/h2>\n\n\n\n<p>Futures on the&nbsp;<strong>S&amp;P 500 Index<\/strong>&nbsp;and the&nbsp;<strong>Nasdaq 100 Index<\/strong>&nbsp;continued to slide in the premarket, down 0.2% and 0.3%. <\/p>\n\n\n\n<p>Treasury yields continue to rise, with the 10-year yield surging 6 basis points to 4.15%, the highest since November 2022.<\/p>\n\n\n\n<p>The U.S. dollar index, slightly fell 0.1%.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted August 3, 2023 &#8211; <a href=\"https:\/\/www.benzinga.com\/economics\/macro-economic-events\/23\/08\/33548519\/unemployment-claims-tick-higher-ahead-of-fridays-jobs-report-treasury-yields-cont\">Unemployment Claims Tick Higher Ahead Of Friday&#8217;s Jobs Report: Treasury Yields Continue To Rise<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jobless claims matched expectations last week, indicating a still-healthy labor market. The number of Americans filing for unemployment benefits slightly increased last week.<\/p>\n","protected":false},"author":1128,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18,6,8,9,26,3],"tags":[1685,4232,15688],"contributors-categories":[13584],"class_list":{"0":"post-194420","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-macro","7":"category-north-america","8":"category-region","9":"category-securities","10":"category-text-articles","11":"category-traders-insight","12":"tag-macro","13":"tag-treasury-yields","14":"tag-unemployment-claims","15":"contributors-categories-benzinga"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Unemployment Claims Tick Higher Ahead Of Friday&#8217;s Jobs Report: Treasury Yields Continue To Rise<\/title>\n<meta name=\"description\" content=\"Jobless claims matched expectations last week, indicating a still-healthy labor market. The number of Americans filing for unemployment benefits...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/194420\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Unemployment Claims Tick Higher Ahead Of Friday&#039;s Jobs Report: Treasury Yields Continue To Rise | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"Jobless claims matched expectations last week, indicating a still-healthy labor market. 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