Initial Jobless Claims Come In Worse Than Expected

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Initial jobless claims for the week ending September 18th were 460,000, which was higher than the 450,000 figure expected.

So we’re back in initial jobless claims limbo.

The bears can point to a figure that remains painfully high, while the bulls can show how the data still appears to be on a long-term recovery track, though an extremely slow one.

DOL:

In the week ending Sept. 11, the advance figure for seasonally adjusted initial claims was 450,000, a decrease of 3,000 from the previous week’s revised figure of 453,000. The 4-week moving average was 464,750, a decrease of 13,500 from the previous week’s revised average of 478,250.

The advance seasonally adjusted insured unemployment rate was 3.5 per cent for the week ending Sept. 4, 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. 4 was 4,485,000, a decrease of 84,000 from the preceding week’s revised level of 4,569,000. The 4-week moving average was 4,503,000, a decrease of 7,500 from the preceding week’s revised average of 4,510,500.

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