BEAT: Initial Jobless Claims Fall To 359K

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UPDATE: Initial jobless claims fell to 359K this week. However, last week’s number was revised up to 385K.

Economists were expecting 375K.

Continuing claims inched down to 3171K this week from 3172 last week.

Louisiana showed the biggest drop in claims this week (-4150) likely related to a rebound from Hurricane Isaac.

Claims surged in California (+18,522) due to the return to the five-day work week following labour Day the previous week.

Below, key output from the report:

initial jobless claims sep 20

Photo: Department of labour

Here is the full release from the Department of labour >

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ORIGINAL: Minutes away from initial jobless claims, out at 8:30 AM ET.

A survey of economists by Bloomberg revealed consensus expectations of 375K new claims for the week ended September 22, down from last week’s reading of 382K.

Continuing claims are expected to rise slightly to 3288K from 3272K last week.

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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