In the United States, new claims for unemployment insurance fell last week to a three-week low. This suggests that demand for workers is still healthy.
Key point U.S. initial unemployment claims in the week ending on the 19th decreased by 10,000 from the previous week to 230,000 The median economist forecast was revised to 240,000 from the previous week to 240,000 (preliminary figure of 239,000)
The number of continuing unemployment insurance beneficiaries fell to 1.7 million in the week ended 12th.
On a non-seasonally adjusted basis, the number of applications filed last week fell to about 198,000, the lowest since October last year. In Hawaii, however, the number surged. The wildfires on Maui affected.
Upper row: Seasonally adjusted and unseasonally adjusted initial unemployment insurance claims Lower row: Hawaii initial unemployment insurance claims (unseasonally adjusted)
Source: US Department of Labor
The latest unemployment insurance data show that the labor market remains strong and underpins new momentum in the U.S. economy. Employers are still hiring at a healthy pace, and the wave of layoffs that made headlines this year appears to be slowing.
Bloomberg TV report on unemployment insurance statistics
Source: Bloomberg
Initial unemployment claims can be particularly volatile during the summer. The reason for this is that automakers are suspending operations due to annual replacement of equipment. The four-week moving average of less volatile unemployment claims rose to 236,750.
See table for detailed statistics.
Original title:US Jobless Claims Drop to 230,000, Lowest in Three Weeks(excerpt)
2023-08-24 13:56:15
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