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Jobless Claims

Market Consensus before announcement


Initial jobless claims rose 21,000 in the August 9 week to 311,000 which was the highest level since late June. But the 4-week average, though rising 2,000 to 295,750, was still nearly 15,000 below a month ago in a comparison that hints at improvement for the monthly employment report. Continuing claims data, which lag by a week, rose 25,000 in the August 2 week to 2.544 million with the 4-week average up 9,000 to 2.528 million. But here too, the month-ago comparison is favorable showing a decrease of more than 30,000.

Definition

New unemployment claims are compiled weekly to show the number of individuals who filed for unemployment insurance for the first time. An increasing (decreasing) trend suggests a deteriorating (improving) labor market. The four-week moving average of new claims smoothes out weekly volatility.