Economy
Weekly Jobless Claims Now Under 300,000 for 79 Consecutive Weeks
Published:
Last Updated:
The U.S. Department of Labor has released another low reading on weekly jobless claims. In the week ending September 3, seasonally adjusted initial claims were 259,000. This represents a decrease of 4,000 from the prior week’s 263,000 reading. That makes the report 5,000 lower than the 264,000 consensus estimate from Bloomberg and 6,000 lower than the 265,000 consensus estimate from Dow Jones’ Wall Street Journal.
As usual, the Labor Department said that no special factors had an impact on this week’s initial claims. One more consideration here is that this marks 79 consecutive weeks in which jobless claims have come in below 300,000, which the Bureau of Labor Statistics showed to be the longest streak since 1970.
The four-week moving average was 261,250, down some 1,750 from the prior week’s reading of 263,000.
Other data come with a one-week lag:
With most eyes on a lack of new quantitative easing from the European Central Bank, this weekly jobless claims report is largely being ignored. One consideration to keep in mind is that weekly jobless claims reports are likely to be ignored until they start changing direction in a meaningful way.
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.