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Weekly jobless claims increase

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Weekly jobless claims increase

Weekly claims figure of 282,000 misses analysts’ expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended August 29 were 282,000, an increase of 12,000 from the previous week's revised figure.  

Analysts had expected claims to increase to 275,000.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 3,250 to 275,500.

The magnitude of the increase in claims was unexpected, but claims have now remained under the 300,000 threshold for 26 consecutive weeks, indicating a continued strengthening of the job market.

 

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