Decrease Recorded in Weekly Unemployment Insurance Claims in the US
According to the latest data released, the number of claims remained below market expectations and showed a decline.
According to weekly data released by the US Department of Labor, the number of people applying for first-time unemployment benefits in the country decreased by one thousand in the week ending September 26 compared to the previous week.
Change in Application Numbers
According to weekly data shared by the US Department of Labor, the number of first-time unemployment benefit applicants decreased by one thousand in the week ending September 26. With this drop, the total number of claims declined to 197 thousand.
Market Expectations and Revisions
Economists' and markets' expectation for this period was for the number of claims to be around the 200 thousand level. Meanwhile, the previous week's unemployment benefit claims data was revised upward from 197 thousand to 198 thousand.
Averages and Continuing Claims
The 4-week moving average of unemployment benefit claims calculated as of last week decreased by 2,500 to 200 thousand. Additionally, the number of continuing unemployment claims fell by 11 thousand in the week ending September 19 to 1 million 701 thousand.