Number of Initial Unemployment Claims in the US Announced
According to US Department of Labor data, the number of first-time unemployment benefit claims rose to 206,000 in the week ending August 29.
According to weekly data released by the US Department of Labor, the number of initial unemployment claims in the country exceeded market expectations in the week ending August 29, reaching 206,000.
Increase in Weekly Claims
The number of people filing for initial unemployment benefits in the US increased by 2,000 compared to the previous week, reaching a total of 206,000 in the week ending August 29.
Market Expectations and Revisions
Market expectations were for the number of claims to be around 205,000 during this period. Meanwhile, the previous week's claims data was revised from 203,000 to 204,000.
Four-Week Moving Average and Continuing Claims
As of last week, the 4-week moving average of initial unemployment claims registered an increase of 1,500, rising to 207,250.
In the week ending August 22, the number of continuing unemployment claims increased by 8,000 compared to the previous week, climbing to 1 million 779 thousand.