The Department of Labor reports the sharp decline in this week’s jobless claims:
In the week ending September 22, the advance figure for seasonally adjusted initial claims was 359,000, a decrease of 26,000 from the previous week’s revised figure of 385,000. The 4-week moving average was 374,000, a decrease of 4,500 from the previous week’s revised average of 378,500.
Jobless claims is perhaps the most revised government statistic produced, so don’t be surprised if that 359k jumps to 390k by next week.
The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending September 15, unchanged from the prior week’s unrevised rate.
The advance number for seasonally adjusted insured unemployment during the week ending September 15 was 3,271,000, a decrease of 4,000 from the preceding week’s revised level of 3,275,000. The 4-week moving average was 3,295,500, a decrease of 15,000 from the preceding week’s revised average of 3,310,500.