First Time Jobless Claims Down 6K

Initial claims moved lower in the September 5 week, down 6,000 to an as-expected level of 275,000. But the 4-week average, at 275,750, posted a marginal rise and is trending more than 5,000 above the month-ago trend. Continuing claims, which are reported with a one week lag, rose 1,000 to 2.260 million for data in the August 29 week while the 4-week average fell 5,000 and is also at 2.260 million. This average is also slightly above the month-ago trend. The unemployment rate for insured workers is unchanged at 1.7 percent. There are no special factors in this report where levels of claims remain unusually low - though not quite as low as before.

Recent History Of This Indicator: Initial jobless claims are expected to edge back from the prior week's rise, down 7,000 to a consensus 275,000 for the September 5th week. Weekly data like jobless claims will be getting increasing attention for clues on the effects of market turbulence, which will be a key issue at this month's FOMC.