For the week ending September 5th, new jobless claims fell more than expected.
Seasonally-adjusted new claims were down 550,000, beating the consensus expectation of 560,000. This was also lower than the previous week’s 576,000. States with the highest increase in claims included New York and Texas, while Michigan and Ohio registered the highest decrease.
Though this preliminary data could be revised, for now we can add it to our list of recent positive US economic surprises.