Initial Jobless Claims Beat Expectations But Are Still Too High

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Initial jobless claims for the week ending September 25th came in 453,000 at vs. 457,000 expected.

It’s a small ‘beat’, but essentially keeps initial claims in limbo between approaching 400,000 (which would be a great sign of improvement) or heading back above 500,000 (which would be very bad).

DOL:

SEASONALLY ADJUSTED DATA

In the week ending Sept. 25, the advance figure for seasonally adjusted initial claims was 453,000, a decrease of 16,000 from the previous week’s revised figure of 469,000. The 4-week moving average was 458,000, a decrease of 6,250 from the previous week’s revised average of 464,250.

The advance seasonally adjusted insured unemployment rate was 3.5 per cent for the week ending Sept. 18, a decrease of 0.1 percentage point from the prior week’s revised rate of 3.6 per cent.

The advance number for seasonally adjusted insured unemployment during the week ending Sept. 18 was 4,457,000, a decrease of 83,000 from the preceding week’s revised level of 4,540,000. The 4-week moving average was 4,526,750, a decrease of 5,500 from the preceding week’s revised average of 4,532,250.

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 370,147 in the week ending Sept. 25, a decrease of 12,176 from the previous week. There were 445,618 initial claims in the comparable week in 2009.

The advance unadjusted insured unemployment rate was 3.0 per cent during the week ending Sept. 18, a decrease of 0.1 percentage point from the prior week. The advance unadjusted number for

persons claiming UI benefits in state programs totaled 3,766,450, a decrease of 169,875 from the preceding week. A year earlier, the rate was 3.8 per cent and the volume was 5,072,855.

See the full report.

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