Jobless claims fall to near a 42-year low
Source: Reuters
Markets | Thu Oct 8, 2015 8:51am EDT
Jobless claims fall to near a 42-year low
WASHINGTON | By Jason Lange
The number of Americans filing new applications for jobless benefits fell more than expected to near a 42-year low last week, pointing to ongoing tightening in the labor market despite the recent slowdown in hiring.
The data released on Thursday provides an upbeat check on the health of the labor market after last week's monthly employment report increased doubts the Federal Reserve would raise interest rates by the end of this year.
Initial claims for state unemployment benefits dropped 13,000 to a seasonally adjusted 263,000 for the week ended Oct. 3, the Labor Department said. ... That was the lowest since mid-July when the number of claims was at its lowest since 1973. Hitting such a historical low is remarkable considering the U.S. workforce has grown considerably since the 1970s.
It was also the 31st straight week that claims remained below the 300,000 threshold, which is usually associated with a strengthening labor market. The Labor Department said there were no special factors impacting last week's claims.
Read more: http://www.reuters.com/article/2015/10/08/us-usa-economy-unemployment-idUSKCN0S21IZ20151008
ETA News Release: Unemployment Insurance Weekly Claims Report (10/08/2015): Unemployment Insurance Weekly Claims Report
UNEMPLOYMENT INSURANCE WEEKLY CLAIMS
SEASONALLY ADJUSTED DATA
In the week ending October 3, the advance figure for seasonally adjusted initial claims was 263,000, a decrease of 13,000 from the previous week's revised level. The previous week's level was revised down by 1,000 from 277,000 to 276,000. The 4-week moving average was 267,500, a decrease of 3,000 from the previous week's revised average. The previous week's average was revised down by 250 from 270,750 to 270,500.
There were no special factors impacting this week's initial claims.
The advance seasonally adjusted insured unemployment rate was 1.6 percent for the week ending September 26, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending September 26 was 2,204,000, an increase of 9,000 from the previous week's revised level. The previous week's level was revised up 4,000 from 2,191,000 to 2,195,000. The 4-week moving average was 2,221,500, a decrease of 14,750 from the previous week's revised average. The previous week's average was revised up by 1,000 from 2,235,250 to 2,236,250.
UNADJUSTED DATA
....
The total number of people claiming benefits in all programs for the week ending September 19 was 1,923,735, a decrease of 61,340 from the previous week. There were 2,126,874 persons claiming benefits in all programs in the comparable week in 2014.
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