Initial Jobless Claims Fall 1.6% to Lowest Number in 6 Years

Initial jobless claims fell 1.6% to 305,000 for the week ending Sept. 21, according to a Labor Department report released today. That's the lowest number in six years.

After increasing a revised 5.4% the previous week, this newest report trounced analysts' expectations of 330,000 claims. And while computer system upgrades left the previous two weeks' numbers less-than-analyzable, this latest unaffected report solidly signals labor market improvement.

Source: Author, data from Labor Department. 

From a more long-term perspective, a 2.2% drop in the four-week moving average to 308,000 initial  claims marks the fourth straight report of decreases. Both the latest week's claims and the four-week average fall significantly below 400,000, a cutoff point that economists consider a sign of an improving labor market.

On a state-by-state basis, not a single state recorded a decrease of more than 1,000 initial claims for the week ending Sept. 14 (most recent available data). For the same period, eight states registered increases of more than 1,000 initial claims.

California led the rise, with 22,610 more claims primarily resulting from a return to a five-day workweek (after Labor Day holiday) and a full week of processing after its computer system updates. Agricultural layoffs helped push Florida's numbers up 3,950, while manufacturing proved the main mover behind Georgia's 2,960-initial-claim increase. 


Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2656813, ~/Articles/ArticleHandler.aspx, 10/1/2016 8:10:54 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 10 hours ago Sponsored by:
DOW 18,308.15 164.70 0.91%
S&P 500 2,168.27 17.14 0.80%
NASD 5,312.00 42.85 0.81%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes