U.S. Unemployment Claims Drop by 4,000 as Labor Market Shows Continued Resilience
Advance figure for seasonally adjusted initial claims decreases to 218,000, while insured unemployment remains steady at 1.2%.
Unemployment claims in the U.S. decreased to 218,000 for the week ending September 21, down 4,000 from the previous week's revised total, according to the U.S. Department of Labor. This reduction in claims reflects continued strength in the labor market, despite a slight upward revision of the previous week's numbers.
The four-week moving average for initial claims also fell, decreasing by 3,500 to 224,750. Last week's average had been revised upwards to 228,250 from the originally reported 227,500, a news release from DoL said.
Unemployment Rate Unchanged
Meanwhile, the seasonally adjusted insured unemployment rate for the week ending September 14 remained unchanged at 1.2%. The total number of individuals receiving unemployment benefits rose slightly by 13,000 to 1,834,000. However, the four-week moving average of those receiving benefits fell by 6,500 to 1,835,750, continuing the trend of overall stability in the labor market.
