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Free AccessMNI DATA ANALYSIS: US Jobless Claims Fall 12,000 To 232,000>
--Initial Claims 4-Week Avg Down 500 To 240,500, Could Fall Next Week
--August 12 Claims Level -2,000 From 234,000 in July 15 Survey Week
By Kevin Kastner
WASHINGTON (MNI) - Initial claims for U.S. state unemployment
benefits fell by 12,000 to 232,000 in the August 12 employment survey
week, below the 240,000 level expected and following no revision to the
244,000 claims level in the previous week, data released by the Labor
Department Thursday showed.
Claims were at a level of 234,000 in the July 15 employment survey
week, so there was little change between mid-July and mid-August and no
clear impact on August payrolls.
The four-week moving average for initial claims, a better measure
of the underlying trend of the data, fell for the third straight week.
The average fell by 500 to 240,500 in the August 12 week, below the
average of 244,000 in the July 15 employment survey week.
If the number of headline claims does not change next week and
there are no revisions to data from the past four weeks, the four-week
average will fall by an additional 3,250 as the 245,000 level in the
July 22 week rolls out of the calculation.
Seasonal adjustment factors had expected a decrease of 1.7%, or
3,662, in unadjusted claims in the week. Instead, unadjusted claims fell
by 13,891 to 198,033. The current week's level was well below the
219,570 level in the comparable week a year ago.
The level of continuing claims fell by 3,000 to 1.953 million in
the August 5 week, while the four-week moving average for continuing
claims fell by 6,000 to 1.960 million.
The seasonally adjusted insured unemployment rate held steady at
1.4% in the August 5 week for the 18th straight week. The current week's
rate is down from 1.6% in the same week a year earlier.
The unemployment rate among the insured labor force is well below
that reported monthly by the Labor Department because claims are
approved for the most part only for job losers, not the job leavers and
labor force reentrants included in the monthly report.
** MNI Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,M$U$$$,MAUDR$]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.