Initial unemployment claims were below in...>

US DATA: Initial unemployment claims were below expectations in the 

Sep 22 wk, +12k to 214k vs 222k expected. The impact of Hurricane 

Florence on the Southeast coast can be seen in the data, though the 

size of the impact was smaller than analysts anticipated, likely due to 

displaced workers not able to file. The level should rise further next 

week.

- The 4-wk moving avg +250 to 206,250 in the Sep 22 wk after hitting 

another 49-year low in the previous week. The avg would rise next week 

if there is no change to the headline figure as a 205,000 level rolls out.

- NSA claims +7,532 to 176,687 in the current wk, below the 212,987 

level a year ago when the hurricane impacts were still shaking out. 

- Claims were not estimated for any states.                                     

- Continuing claims +16k to 1.661k in the Sep 15 employment survey wk, 

while the 4-wk avg -12,250 to 1.679m, both below levels seen in the Aug 

18 employment survey week. Hurricane impacts should enter this data 

next week.