US Jobless Claims at 7-Week High



The number of Americans filling for unemployment benefits increased by 12 thousand to 214 thousand in the week ended September 22 from the previous week's upwardly revised level of 202 thousand. It compares with market expectations of 210 thousand. Jobless claims hit the highest level since the week ended August 4, mainly reflecting temporary rises in states affected by Hurricane Florence.

The 4-week moving average was 206,250, an increase of 250 from the previous week's revised average. The previous week's average was revised up by 250 from 205,750 to 206,000. 

According to unadjusted data, the biggest rises in claims were seen in North Carolina (+8,035), Kentucky (+4,461), South Carolina (+1,899) and California (+1,396) while the largest decreases were reported in Georgia (-1,377), New Jersey (-965) and Texas (-930).

The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending September 15, unchanged from the previous week's unrevised rate. 

The advance number for seasonally adjusted insured unemployment during the week ending September 15 was 1,661,000, an increase of 16,000 from the previous week's unrevised level of 1,645,000. It compares with market consensus of 1,684,000. The 4-week moving average was 1,679,250, a decrease of 12,250 from the previous week's unrevised average of 1,691,500. This is the lowest level for this average since November 10, 1973 when it was 1,673,000. 

US Jobless Claims at 7-Week High


DOL | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
9/27/2018 1:08:40 PM