Initial Jobless Claims Continue At Near Record Lows

Initial jobless claims continue to hold at near record lows, at a lower-than-expected 267,000 in the September 19 week. The 4-week average is down slightly to 271,750. There are no special factors affecting the report, one that points to tight conditions in labor supply.

Data on continuing claims lag by a week, and the latest week, the September 12 week, covers the sampling period of the monthly employment report and the comparisons are favorable. At 2.242 million, continuing claims are down nearly 25,000 from the August sample week with the 4-week average, now at 2.252 million, down nearly 15,000. The unemployment rate for insured employees is unchanged at a very low 1.7 percent.

Recent History Of This Indicator:
Jobless claims are expected to rise back to their 275,000 trend line, up from the near record low of 264,000 in the prior week. For the past six months, jobless claims have been signaling tight conditions in the labor market.