Initial jobless claims in the US decreased
While the decline in jobless claims in the country was below market expectations, ongoing claims also registered a decrease.
In the US, the number of people filing for first-time unemployment benefits decreased by 4,000 to 203,000 in the week ending August 22 compared to the previous week.
Change in Weekly Claims
According to weekly data released by the US Department of Labor, the number of individuals applying for initial unemployment benefits decreased by 4,000 compared to the previous week.
Market Expectations and Revisions
Economists' market expectation for this period was 208,000 applications. Additionally, the data for the previous week was revised from 206,000 to 207,000.
Averages and Continuing Claims
As of last week, the 4-week moving average of claims increased by 1,250 to reach 205,500. In the week ending August 15, continuing unemployment claims decreased by 18,000 down to 1,778,000.