The latest weekly jobless claims numbers have been released by the U.S. Department of Labor. For the week ending September 26, seasonally adjusted initial jobless claims were up by 10,000 from the prior week to 277,000. The 267,000 figure from the prior week was not revised.
Bloomberg had its consensus weekly estimate at 272,000, and Dow Jones (via the Wall Street Journal) had a 271,000 consensus estimate.
As we usually see, the Labor Department said that no special factors had an impact on this week’s initial claims.
The four-week moving average was down by 1,000 to 270,750, and the previous week’s reading was an unrevised 271,750.
Progress keeps getting made on the continuing jobless claims, which we refer to as the army of the unemployed. This report comes with a one-week lag but was down by 53,000 to 2,191,000 in the week of September 19. What stands out the most was that the Labor Department said this was the lowest level for insured unemployment since November 11, 2000, when it was 2,161,000.
Thursday’s report marked the last formal jobs report from the government ahead of Friday’s payrolls and unemployment report. Bloomberg is calling for 203,000 in nonfarm payrolls and 195,000 in private sector payrolls. Unemployment is expected to be flat at 5.1%.
ALSO READ: The Highest Paid Public Employee in Each State
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.