Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
U.S. jobless claims increase slightly to 207,000 for the week
JOBLESS CLAIMS
U.S. jobless claims increase slightly to 207,000 for the week
PUBLISHED THU, OCT 5 20238:33 AM EDTUPDATED MOMENTS AGO
Jeff Cox
@JEFF.COX.7528
@JEFFCOXCNBCCOM
The U.S. labor market held strong as September came to a close, with weekly jobless claims holding around recent lows, the Labor Department reported Thursday.
Initial filings for unemployment benefits totaled 207,000 for the week ended Sept. 30, up just 2,000 from the previous period and below the Dow Jones consensus estimate for 210,000. ... Continuing claims, which run a week behind, were little changed at 1.664 million, below the 1.68 million estimate from FactSet. The four-week moving average of claims, which irons out volatility, fell to 208,750, a decline of 2,500.
{snip}
The report comes at a critical time for the economy as the Federal Reserve considers the future of monetary policy. Central bank officials worry that continued tightness in the labor market could exert upward pressure on inflation and necessitate additional interest rate hikes.
Earlier this week, the Labor Department reported an unexpected surge in job openings, which would indicate that employers are still having trouble filling positions. ... However, ADP said Wednesday that private payrolls grew by just a net 89,000, well below Wall Street expectations. ... All the data comes just ahead of Friday's critical nonfarm payrolls report, which is expected to show an increase of 170,000 in September, down from 187,000 in August.
This is breaking news. Please check back here for updates.
U.S. jobless claims increase slightly to 207,000 for the week
PUBLISHED THU, OCT 5 20238:33 AM EDTUPDATED MOMENTS AGO
Jeff Cox
@JEFF.COX.7528
@JEFFCOXCNBCCOM
The U.S. labor market held strong as September came to a close, with weekly jobless claims holding around recent lows, the Labor Department reported Thursday.
Initial filings for unemployment benefits totaled 207,000 for the week ended Sept. 30, up just 2,000 from the previous period and below the Dow Jones consensus estimate for 210,000. ... Continuing claims, which run a week behind, were little changed at 1.664 million, below the 1.68 million estimate from FactSet. The four-week moving average of claims, which irons out volatility, fell to 208,750, a decline of 2,500.
{snip}
The report comes at a critical time for the economy as the Federal Reserve considers the future of monetary policy. Central bank officials worry that continued tightness in the labor market could exert upward pressure on inflation and necessitate additional interest rate hikes.
Earlier this week, the Labor Department reported an unexpected surge in job openings, which would indicate that employers are still having trouble filling positions. ... However, ADP said Wednesday that private payrolls grew by just a net 89,000, well below Wall Street expectations. ... All the data comes just ahead of Friday's critical nonfarm payrolls report, which is expected to show an increase of 170,000 in September, down from 187,000 in August.
This is breaking news. Please check back here for updates.