First Time Jobless Claims Fall 11K

The September 12th week may have been a shortened week for the Labor Day holiday but it is still the sampling week for the monthly employment report -- and initial claims from the week point to improvement in the labor market. Claims fell 11,000 to a 264,000 level that is one of the very lowest of the last 40 years and which is 13,000 lower than the sample week for the August employment report. The current 4-week average, at 272,500, is about even with the month-ago comparison. The sample week may be short, but today's report hints at strength for the September employment report.

Recent History Of This Indicator: Initial jobless claims are expected to hold steady at 275,000 in the September 12th week which is also the sample week for the September employment report. Initial claims have been holding at 40-year lows.