US Jobless Claims Unexpectedly Fall to Near 49-Year Low


The number of Americans filling for unemployment benefits went down by 10 thousand to 203 thousand in the week ending September 1 from the previous week's unrevised level of 213 thousand while markets had expected a slight increase to 214 thousand. This is the lowest level for initial claims since December 6,1969 when it was 202,000. However, the Labor Day holiday was observed on Monday which could have influenced the estimates.

The 4-week moving average was 209,500, a decrease of 2,750 from the previous week's unrevised average of 212,250. This is the lowest level for this average since December 6, 1969 when it was 204,500.

According to unadjusted data, the largest declines were reported in Michigan (-1,606), Florida (-890) and New York (-837) while the biggest rises were seen in Indiana (+1,085), Washington (+665), Illinois (+597) and Ohio (+466).

The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending August 25, unchanged from the previous week's unrevised rate.

Continuing jobless claims, the number of people already receiving benefits, during the week ending August 25 were 1,707,000, a decrease of 3,000 from the previous week's upwardly revised level of 1,710,000. It compares with market consensus of 1,710,000. The 4-week moving average was 1,718,500, a decrease of 13,250 from the previous week's revised average. This is the lowest level for this average since December 8, 1973 when it was 1,715,500. The previous week's average was revised up by 500 from 1,731,250 to 1,731,750. 


US Jobless Claims Unexpectedly Fall to Near 49-Year Low


DOL | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
9/6/2018 1:15:29 PM