First Time Jobless Claims Drop 8K

The first hard indication on what the September employment report will look like is positive. Initial claims fell 8,000 to 252,000 in the September 17 week, a very important week as it is also the sample week for the monthly employment report. The 252,000 level is 10,000 below the August sample week (week ended August 13 at 262,000) while the 4-week average, at 258,500, is down 6,750 from the August sample week. Continuing claims, in lagging data for the September 10 week, are down 36,000 to 2.113 million. There are no special factors in today's report, one that underscores the lack of layoffs in the economy and points, at the least, to another respectable employment report for September.

Recent History Of This Indicator:
Initial jobless claims have been tracking at historic lows and pointing to lack of layoffs and healthy conditions in the labor market. Continuing claims have likewise been very low.