- U.S. weekly jobless claims total 310,000
Market news
U.S. weekly jobless claims total 310,000
The
data from the Labor Department showed on Thursday the number of applications
for unemployment declined more than forecast last week, hitting a new
pandemic-era low.
According
to the report, the initial claims for unemployment benefits fell by 35,000 to 310,000
for the week ended September 4. This was the lowest reading
since mid-March of 2020, when the COVID-19 pandemic struck.
Economists
had expected 335,000 new claims last week.
Claims for the prior week
were revised upwardly to 345,000 from the initial estimate of 340,000.
Meanwhile,
the four-week moving average of jobless claims dropped to 339,500 from an upwardly
revised 356,250 in the previous week.
As
for continuing claims, they declined to 2,783,000 from an upwardly revised 2,805,000
in the previous week. This was the lowest reading since March 2020.
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer