US initial jobless claims retreat from October 2021 high

(Sharecast News) - Americans lined up for unemployment benefits at a decelerated pace last week, according to fresh data from the Department of Labor, after hitting the highest level for initial claims since October 2021 a week earlier. Initial jobless claims dropped by 33,000 to a seasonally adjusted 231,000 in the week ended 13 September, better than consensus forecasts of a smaller decrease to 240,000, while continuing claims, which track those still receiving benefits, dropped by 7,000 to 1.92m, better than the increase to 1.95m expected by economists.

The four-week moving average, which aims to strip out week-to-week volatility, came to 240,000, down by 750 from the previous week's upwardly revised print. The insured unemployment rate held steady at 1.3%.





Reporting by Iain Gilbert at Sharecast.com