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ECON: Jobless Claims Slightly Lower Than Expected
Posted to: Micro News
Thursday, August 29, 2013 8:50 AM
- Claims 331k vs 332k forecast, 337k previously
- Continued Claims 2.989 mln vs 2.980 mln forecast
- Market Reaction: this is one of the most "as-expected" Jobless Claims reports in recent memory, with only a 1k deviation from consensus and a 1k revision to the previous month. GDP data is therefore credited with having a bigger impact at 8:30am.
In the week ending August 24, the advance figure for seasonally adjusted initial claims was 331,000, a decrease of 6,000 from the previous week's revised figure of 337,000. The 4-week moving average was 331,250, an increase of 750 from the previous week's unrevised average of 330,500.
The advance seasonally adjusted insured unemployment rate was 2.3 percent for the week ending August 17, unchanged from the prior week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending August 17 was 2,989,000, a decrease of 14,000 from the preceding week's revised level of 3,003,000. The 4-week moving average was 2,996,250, an increase of 9,500 from the preceding week's revised average of 2,986,750.
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