First Time Jobless Claims Drop 2K To 210K

Initial jobless claims for the August 18 week, which is also the sample week for the monthly employment report, fell 2,000 to 210,000 with the 4-week average down 1,750 to 213,750. Comparisons with the sample week of the July employment report show a marginal 2,000 rise for the weekly level and a 7,000 decline for the 4-week average in what are favorable signals that point to yet another healthy employment report for August.

Continuing claims edged 2,000 lower in lagging data for the August 11 week with this 4-week average down 5,000 to 1.736 million. The unemployment rate for insured workers holds at 1.2 percent, which is very low and like all readings in this report consistent with strong demand for labor.