First Time Jobless Claims Rise 3K

Jobless claims remain very low and continue to point to strength in the labor market. Initial claims inched 3,000 higher in the September 24 week to 254,000 though the 4-week average is down 2,250 to 256,000. Continuing claims are also pointing to strength, down a steep 46,000 to 2.062 million in lagging data for the September 17 week. The September 17 week was also the sample week for the monthly employment report and comparisons show an 11,000 decline for initial claims and an 83,000 decline in continuing, both of which are sizable. There are no special factors in the report.

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. Forecasters see initial claims climbing only modestly, up 8,000 in the September 24 week from the prior week's unusually low reading of 252,000.