US initial jobless claims reached 196,000 for the week ending September 12, approximately 11,000 below the consensus estimate of 207,000. The prior week’s figure was revised to 206,000, creating a decline of exactly 10,000 claims week-over-week. The four-week moving average stands at approximately 203,000, indicating a healthy underlying trend in the US labor market. This stronger-than-expected employment data reduces the Federal Reserve’s urgency to cut interest rates, supports the US dollar, and sustains upward pressure on wages and services inflation.
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