Seasonally adjusted initial claims were 551,000 in the week ending September 26, recording an increase of 17,000 from the previous week’s revised figure of 534,000, a report by the U.S. Department of Labor showed today. The four-week moving average, a better gauge of initial claims, estimated a decline of 6,250 to 548,000.
Initial claims were below expectations for the fourth week of September as analysts had expected the number around the 530,000 range.
A key component of the report edged lower albeit remaining at record highs. During the week ending September 19 a decrease of 70,000 was reported with the figure falling closer to the 6.0 million mark at 6,090,000.
The largest increases in initial claims for the week ending September 19 were in California, Texas, Florida, Iowa, and Illinois, while the largest decreases were in Kansas, Wisconsin, Oregon, Ohio, and New York.
Green shoots? Recovery? No way with these kind of jobs still being lost!
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