The number of Americans filing new claims for unemployment benefits fell by 10,000 in the latest week, giving another high-frequency reading on the U.S. labor market after a closely watched stretch of jobs data.
Seasonally adjusted initial jobless claims dropped to 196,000 in the week ended September 12, from an unrevised 206,000 one week earlier, according to the Labor Department’s September 17 weekly claims report. The report was released at 8:30 a.m. Eastern time on Thursday.
The four-week moving average, which smooths some of the volatility in the weekly figures, fell by 2,750 to 203,250 from 206,000. Continuing claims also declined. Seasonally adjusted insured unemployment fell by 39,000 to 1.730 million in the week ended September 5.
The previous week was revised down by 5,000, from 1.774 million to 1.769 million. The insured unemployment rate fell to 1.1% from 1.2%. For comparison, the Labor Department reported 233,000 initial claims in the comparable week a year earlier.
The latest figures show fewer workers newly applying for unemployment benefits than a week earlier, but one weekly report alone does not establish a broader employment trend. Investors and policymakers can compare the claims data with other labor indicators, including Investozora’s latest analysis of U.S. hiring, quits and job openings.
The Labor Department normally publishes its unemployment insurance claims report each Thursday at 8:30 a.m. Eastern, making the next weekly release the next high-frequency check on layoffs and continuing unemployment.
