UPDATE: Initial jobless claims fell to 382K this week, higher than expectations of 375K.
Last week’s initial claims figure was revised up to 385K from 382K.
Once again, the states with the largest increases in claims (Louisiana: +6678; Puerto Rico: +1679) mentioned Hurricane Isaac in their comments.
However, the biggest decrease in claims, in California (-8163), were said to be affected by a shortened week due to a holiday.
Here is a breakdown from the Department of labour:
Photo: Department of labour
The full press release from the Department of labour is here.
ORIGINAL: Minutes away from the key economic announcement to kick off a busy morning of economic data: initial jobless claims.
A survey of economists by Bloomberg revealed consensus expectations of 375K new claims for the week ended September 15, down from last week’s reading of 382K.
Continuing claims are expected to rise slightly to 3300K from 3283K last week.
Initial claims jumped unexpectedly last week, coming in at 382K, which was higher than estimates of 370K.
The Department of labour will release figures at 8:30 a.m. We will have the numbers here LIVE on Money Game.
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