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Initial claims for US unemployment benefits declined by 2,000 to 231,000 applications in the week ended Aug. 24.
This missed forecasts for a larger drop to 230,000 in initial jobless claims, compared to the previous week’s reading, which was revised upwards by 1,000 to 233,000 applications.
Likewise, the four-week moving average for new claims, a better measure of labor market trends as it irons out weekly fluctuations, shed 4,750 to 231,500 applications, versus last week’s revised-upward average of 236,250.
Weekly US Jobless Claims |
||||
Item |
Last Year |
Previous Week |
Latest Week |
Change |
Initial Claims (‘000) |
234.0 |
233.0 |
231.0 |
(2) |
Four-Week Average (‘000) |
245.25 |
236.25 |
231.5 |
(4.75) |
Total Beneficiaries (mln) |
1.859 |
1.855 |
1.868 |
0.013 |
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