Weekly US Jobless Claims Rise Less Than Expected

The number of Americans filing new claims for unemployment benefits rose less than expected last week, suggesting an acceleration in job growth in September.

Initial claims for state unemployment benefits increased 12,000 to a seasonally adjusted 293,000 for the week ended Sept.20, the Labor Department said on Thursday.

Claims for the prior week were revised to show 1,000 more applications received than previously reported.

Economists polled by Reuters had forecast claims rising to 300,000 last week.

The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 1,250 to 293,500.

A Labor Department analyst said there were no special factors influencing the state level data.

Claims are hovering near their pre-recession levels, an indication that labor market conditions are tightening despite August’s sharp slowdown in job growth.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza