First Time Jobless Claims Drop Slightly

Jobless claims are steady at historically low levels pointing to a low rate of layoffs and strength for the economy. Initial claims edged 1,000 lower in the August 6 week to 266,000 with the 4-week average up 3,500 to a 262,750 level that shows very little change over the last several weeks.

Continuing claims rose 14,000 to 2.155 million in lagging data for the July 30 week. The 4-week average is unchanged at 2.143 million and is also nearly unchanged against recent comparisons. The unemployment rate for insured workers is unchanged at a near record low of 1.6 percent.

There are no special factors in today's report, one that offers the first hint for another month of strength in the August employment report.

Recent History Of This Indicator:
Initial jobless claims rose during the last half of July but not by much, pointing to a low rate of layoffs and strength for the economy. Initial claims are expected to inch back lower in the July 30 week, down 4,000 to 265,000 after rising a combined 17,000 in the prior two weeks. Seasonal layoffs tied to auto retooling are