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Jobless Claims Worse Than Expected

Thursday, 20 September 2012

Jobless Claims Worse Than ExpectedThis morning, the Labor Department reported that 382,000 Americans filed for initial jobless claims last week. It was higher than expected, as analysts had been predicted 375k filings. The Labor Department also revised last week's number higher, to 385K from a previously reported 382k. 

The 4-week moving average of claims also moved higher to 377k, up from a revised 375k.

The numbers signal continued sluggishness in the labor market. It is generally acknowledged that initial weekly jobless claims need to fall below 350k to indicate any improvement in the job market. It is very likely that the next jobs report, released on October 2nd, will again be a disappointment. 

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Source: Bloomberg - on September 20, 2012

News video: U.S. Jobless Claims Fell to 382,000

U.S. Jobless Claims Fell to 382,000

Sept. 20 (Bloomberg) -- U.S. initial jobless claims decreased by 3,000 in the week ended Sept. 15 to 382,000, Labor Department figures showed today in Washington. The median forecast of 49 economists surveyed by Bloomberg projected 375,000. Sara Eisen and Betty Liu report on Bloomberg Television's...

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