Initial jobless claims for the week ending September 14 were a seasonally adjusted 309k, the U.S. Department of Labor reports. This is an increase from last week’s revised reading of 294k, but is still a very low. Initial claims for the week not seasonally adjusted were 272k.
Part of the reason last week had so few jobless claims was due to what the Labor Department referred to as “computer upgrades”, so significant upward revisions were to be expected. Those upward revisions have not yet occurred though.
This week it was again noted though that California had understated jobless claims due to computer system updates. Eventually, upward revisions will be expected for these weeks, or future weeks will show higher figures to catch up.
The insured unemployment rate decreased this week to a seasonally adjusted 2.1% from 2.2% the week prior. This figure does not change often and has now fallen for the second week in a row.
The number of unemployment insurance recipients, or continuing claims, were a seasonally adjusted 2.787 million. This is a decrease from the revised reading of 2.815 million the week prior and is the lowest that unemployment insurance recipients have been since January 2008.
Via: floatingpath.com
