Updated: 21-Sep-23 09:11 ET
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Updated: 21-Sep-23 09:11 ET |
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Highlights
- Initial claims for the week ending September 16 declined by 20,000 to just 201,000 (Briefing.com consensus 225,000), hitting their lowest level since January.
- Continuing jobless claims for the week ending September 9 decreased by 21,000 to 1.662 million.
Key Factors
- The four-week moving average for initial claims decreased by 7,750 to 217,000.
- The four-week moving average for continuing claims decreased by 8,750 to 1,687,000.
- The total number of continued weeks claimed for benefits in all programs for the week ending September 2 was 1,678,881, a decrease of 93,267 from the previous week. In the same week a year ago, there were 1,295,610 weekly claims filed for benefits in all programs.
Big Picture
- The key takeaway from the report is that the low level of initial claims shows that the labor market is still operating in a tight mode, which is going to remain a basis for the Fed to keep operating with a restrictive interest rate mindset.
Category |
Sep 16 |
Sep 9 |
Sep 2 |
Aug 26 |
Aug 19 |
Initial Claims |
201K |
221K |
217K |
229K |
232K |
4-Wk Moving Avg |
217K |
225K |
230K |
238K |
237K |
Continued Benefits |
|
1662K |
1683K |
1684K |
1719K |
4-Wk Moving Avg |
|
1687K |
1696K |
1703K |
1703K |