Initial Claims Come in Better than Expectations Ahead of Nonfarm Data
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Americans filing for jobless claims rose less than expected last week.
According to new data from the U.S. Department of Labor Thursday, 6,000 filings for initial jobless claims came in for the week ended October 1st, bringing the total to 401,000 over the period.
Economists had forecast a more robust increase to 410,000. The monthly average came in at it's lowest level since the end of August, Bloomberg noted.
The prior week reading was revised slightly higher from an initial 391,000 to 395,000.
The lower amount of applications may point to reductions in firings by corporations, potentially setting the stage for a better nonfarm payroll report and slight decline in the 9.1 percent unemployment rate. Friday's nonfarm number is expected to show an addition of 59,000 workers while the private sector is expected to add 90,000 jobs. The unemployment rate is expected to remain flat at 9.1 percent.
Four-week moving initial claims fell 4,000 to 414,000, the lowest level since August 27th.
Continuing claims fell 52,000 to 3.7 million for the week ended September 24th, the lowest level since July 30th. Economists were expecting a reading of 3.725 million.
Emergency recipients fell 28,370 to 3.55 million for the week ended September 17th.
According to new data from the U.S. Department of Labor Thursday, 6,000 filings for initial jobless claims came in for the week ended October 1st, bringing the total to 401,000 over the period.
Economists had forecast a more robust increase to 410,000. The monthly average came in at it's lowest level since the end of August, Bloomberg noted.
The prior week reading was revised slightly higher from an initial 391,000 to 395,000.
The lower amount of applications may point to reductions in firings by corporations, potentially setting the stage for a better nonfarm payroll report and slight decline in the 9.1 percent unemployment rate. Friday's nonfarm number is expected to show an addition of 59,000 workers while the private sector is expected to add 90,000 jobs. The unemployment rate is expected to remain flat at 9.1 percent.
Four-week moving initial claims fell 4,000 to 414,000, the lowest level since August 27th.
Continuing claims fell 52,000 to 3.7 million for the week ended September 24th, the lowest level since July 30th. Economists were expecting a reading of 3.725 million.
Emergency recipients fell 28,370 to 3.55 million for the week ended September 17th.
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