US Jobless Claims Unexpectedly Drop in Latest Week


The number of Americans filing for unemployment benefits unexpectedly fell by 14 thousand to 284 thousand in the week ended September 9th, well below market expectations of 300 thousand.

Hurricanes Harvey and Irma impacted this week's initial claims. Still, claims have been below 300,000 for 132 straight weeks, the longest such stretch since 1970.

The 4-week moving average was 263,250, an increase of 13,000 from the previous week's unrevised average of 250,250. This is the highest level for this average since August 13, 2016 when it was 263,250.

The advance seasonally adjusted insured unemployment rate was 1.4 percent for the week ending September 2, unchanged from the previous week's unrevised rate. 

The continuing claimsdrawn by workers for more than a week (the advance number for seasonally adjusted insured unemployment) during the week ending September 2 was 1,944,000, a decrease of 7,000 from the previous week's revised level. The previous week's level was revised up 11,000 from 1,940,000 to 1,951,000. The 4-week moving average was 1,948,500, a decrease of 2,500 from the previous week's revised average. The previous week's average was revised up by 2,750 from 1,948,250 to 1,951,000. 

DOL | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/14/2017 12:38:19 PM