ECON: Jobless Claims Slightly Lower than Forecast, but Continued Claims Rise
- Initial Claims - 308k vs 313k forecast, 307k previously
- Continued Claims 2.925 mln vs 2.810 mln forecast
- Market Reaction: 10yr yields down 1bp and MBS largely unchanged but neither are trading briskly by any means.
In the week ending September 28, the advance figure for seasonally adjusted initial claims was 308,000, an increase of 1,000 from the previous week's revised figure of 307,000. The 4-week moving average was 305,000, a decrease of 3,750 from the previous week's revised average of 308,750.
The advance seasonally adjusted insured unemployment rate was 2.3 percent for the week ending September 21, an increase of 0.1 percentage point from the prior week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending September 21 was 2,925,000, an increase of 104,000 from the preceding week's revised level of 2,821,000. The 4-week moving average was 2,837,250, a decrease of 4,750 from the preceding week's revised average of 2,842,000.