US initial jobless claims 242K vs 220K estimate

• Prior week initial jobless claims 224K revised to 225K
• Initial jobless claims 242K vs 220K estimate. Highest since the 1st week of October
• 4-week MA for initial jobless claims 224.25K vs 218.5K last week
• Prior week continuing claims 1.871M
• Continuing claims 1.886M vs 1.875M estimate
• 4-week MA 1.888M. This is the highest level November 27, 2021.

Needless to say a big jump. The last two weeks has seen a jump in initial jobless claims by 27K (from 215 in the week of November 23)

This article was written by Greg Michalowski at www.forexlive.com.