Larger-Than-Expected Decline in US Unemployment Claims
Weekly unemployment benefit claims in the United States fell below market expectations as the latest labor market data was made public.
According to weekly data released by the US Department of Labor, the number of first-time unemployment benefit applicants in the country saw a decline in the week ending September 12.
10 Thousand Decrease in the Number of Claims
The number of first-time unemployment benefit applicants in the US decreased by 10 thousand people compared to the previous week, dropping to 196 thousand in the week ending September 12. Market expectations were for the number of claims to reach 207 thousand during this period.
Previous Week's Data and Average Status
The data regarding the previous week's unemployment benefit claims had been recorded as 206 thousand. As of last week, the 4-week moving average of unemployment benefit claims fell by 2,750 people to 203,250.
Decrease in Continuing Claims
Across the country, the total number of continuing unemployment claims also decreased by 39 thousand people compared to the previous week, dropping to 1 million 730 thousand in the week ending September 5.