Initial jobless claims in the US decreased
Unemployment insurance claims in the US recorded a drop in the first week of September, coming in close to market expectations.
According to weekly data released by the US Department of Labor, the number of people filing for initial unemployment benefits decreased by 1,000 to 206,000 in the week ending September 5.
Weekly Application Data
The US Department of Labor shared the latest weekly statistics regarding unemployment benefits with the public. According to the figures announced, the number of individuals applying for unemployment benefits for the first time showed a decline in the first week of September.
During the week in question, a decrease of 1,000 was recorded compared to the previous period, with the total number of applications dropping to the level of 206,000.
Market Expectations and Revisions
The consensus expectation of economists and market analysts for this period was that the number of unemployment claims would be around 205,000. The realized figure remained at a level very close to this expectation.
On the other hand, the unemployment claim data for the previous week was revised, updating it from 206,000 to 207,000.
Averages and Continuing Claims
The four-week moving average of initial unemployment claims calculated as of last week declined to the level of 206,000 with a decrease of 1,500.
Meanwhile, the total number of continuing unemployment claims fell by 1,000 in the week ending August 29 compared to the previous week, dropping to 1 million 774 thousand.