US Jobless Claims Rise Less Than Expected


The number of Americans filing for unemployment benefits increased by 3,000 to 254,000 in the week ended September 24th compared with the previous week's revised level of 251,000 and below market expectations of 260,000. The four-week average, which smooths out week-to-week volatility in the claims data, dropped to 256,000, matching an April reading as the lowest average since 1973.

This marks 82 consecutive weeks of initial claims below 300,000, the longest streak since 1970.

The 4-week moving average was 256,000, a decrease of 2,250 from the previous week's revised average of 258,250. That matched an April reading as the lowest average since 1973.

The advance seasonally adjusted insured unemployment rate was 1.5 percent for the week ending September 17, unchanged from the previous week's unrevised rate. 

The continuing claims drawn by workers for more than a week (the advance number for seasonally adjusted insured unemployment) during the week ending September 17 was 2,062,000, a decrease of 46,000 from the previous week's revised level. This is the lowest level for insured unemployment since July 1, 2000 when it was 2,052,000. The previous week's level was revised down by 5,000 from 2,113,000 to 2,108,000. The 4-week moving average was 2,115,250, a decrease of 23,750 from the previous week's revised average. This is the lowest level for this average since November 4, 2000 when it was 2,110,500. The previous week's average was revised down by 1,250 from 2,140,250 to 2,139,000. 

US Jobless Claims Rise Less Than Expected


DOL | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/29/2016 12:42:16 PM