A report released by the Labor Department on Thursday unexpectedly showed a slight decline by first-time claims for U.S. unemployment benefits in the week ended May 17th.
The Labor Department said initial jobless claims edged down to 227,000, a decrease of 2,000 from the previous week's unrevised level of 229,000. The dip surprised economists, who had expected jobless claims to inch up to 230,000.
Meanwhile, the report said the less volatile four-week moving average crept up to 231,500, an increase of 1,000 from the previous week's unrevised average of 230,500.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.