US jobless claims fall to lowest since May last week

Applications for US unemployment benefits fell by 12,000 to 219,000 in the week ended Sept. 14, reaching its lowest level since May.

 

This came contrary to expectations for 229,000 claims compared to the previous week's reading, which was revised up by 1,000 to 230,000 applications.

 

The four-week moving average for new jobless claims, a more reliable indicator of labor market trends as it smooths out weekly fluctuations, fell by 3,500 to 227,500, compared to last week’s upwardly revised average of 231,000

 

This data reflected the US labor market's healthy stance despite the slowdown in new job openings and hirings.

 

Weekly US Jobless Claims

Item

Last Year

Previous Week

Latest Week

Change

Initial Claims (‘000)

210.0

231.0

219.0

(12)

Four-Week Average (‘000)

224.75

231.0

227.5

(3.5)

Total Beneficiaries (mln)

1.793

1.843

1.829

(0.014)

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