{"id":43224,"date":"2023-09-21T23:39:17","date_gmt":"2023-09-21T23:39:17","guid":{"rendered":"https:\/\/cabanesetcompagnie.com\/?p=43224"},"modified":"2023-09-21T23:39:17","modified_gmt":"2023-09-21T23:39:17","slug":"u-s-jobless-claims-unexpectedly-decrease-to-seven-month-low","status":"publish","type":"post","link":"https:\/\/cabanesetcompagnie.com\/economy\/u-s-jobless-claims-unexpectedly-decrease-to-seven-month-low\/","title":{"rendered":"U.S. Jobless Claims Unexpectedly Decrease To Seven-Month Low"},"content":{"rendered":"
First-time claims for U.S. unemployment benefits unexpectedly fell to a seven-month low in the week ended September 16th, the Labor Department revealed in a report released on Thursday.<\/p>\n
The report said initial jobless claims dipped to 201,000, a decrease of 20,000 from the previous week’s revised level of 221,000. <\/p>\n
Economists had expected jobless claims to inch up to 225,000 from the 220,000 originally reported for the previous week.<\/p>\n
With the unexpected decrease, jobless claims fell to their lowest level since hitting 199,000 in the week ended January 28th.<\/p>\n
“We won’t read too much into one week’s reading, however, looking at the big picture, claims remain at low levels, a sign that while labor market conditions are cooling, the job market is still characterized by very few layoffs,” said Nancy Vanden Houten, Lead U.S. Economist at Oxford Economics.<\/p>\n
She added, “We expect some increase in layoffs later in the year as the economy<\/span> slows but look for job losses to be modest compared to prior recessions.”<\/p>\n The Labor Department said the less volatile four-week moving average also slipped to 217,000, a decrease of 7,750 from the previous week’s revised average of 224,750.<\/p>\n Continuing claims, a reading on the number of people receiving ongoing unemployment assistance also fell by 21,000 to 1.662 million in the week ended September 9th.<\/p>\n The four-week moving average of continuing claims also edged down to 1,687,000, a decrease of 8,750 from the previous week’s revised average of 1,695,750. <\/p>\n