Weekly initial jobless claims came in at 315,000.
Expectations were for claims to total 300,000, down slightly from last week’s 302,000.
Last week’s number was also revised up slightly, to 304,000.
The four-week moving average of claims rose slightly to 304,000.
Ahead of the report, Ian Shepherdson, chief U.S. economist at Pantheon Macroeconomics, said he was “nervous that today’s claims report will show a clear jump from last week’s 302K, thanks to the difficulty of seasonally adjusting the data accurately in the week of the Labour Day holiday.”
This chart from Bill McBride at Calculated Risk shows the four-week moving average of claims.