Initial unemployment claims -12k to 232k in.>

US DATA: Initial unemployment claims -12k to 232k in August 12 payrolls

survey week, below the 240k level expected. Claims were at a level of 

234k in the July 15 survey week, so there was little change between 

mid-July and mid-August. The 4-wk moving avg -500 to 240,500, a third 

straight decline. The average would fall by 3,250 claims next week if 

the headline number is unchanged as the 245k level in the July 22 week 

rolls off. Seasonal adjustment factors had expected a 3,662 decrease in 

unadjusted claims in the current week. Instead, unadjusted claims fell 

by 13,891 to 198,033. There were no state claims estimated this week. 

Continuing claims -3k to 1.953m in the August 5 week. The 4-wk moving 

avg for continuing claims -6k to 1.960m. The claims data remain below 

their year ago levels by all measures. See MNI main wire.