PiCK
US Initial Jobless Claims Rise to 206,000, Slightly Above Forecast
JOON HYOUNG LEE
Summary
- The U.S. Labor Department said last week’s initial jobless claims totaled 206,000, slightly above economists’ forecast of 205,000.
- The number of continuing jobless claims, which measures people receiving unemployment benefits for two consecutive weeks, rose to 1.779 million, up 8,000 from the prior week’s revised figure of 1.771 million.
- An increase in initial jobless claims can be read as a sign that the overheated labor market is cooling.
Forecast Trend Report by Period
U.S. initial jobless claims edged above market expectations last week.
The Labor Department said on September 3 that initial claims for unemployment benefits totaled 206,000 last week. That was 1,000 above economists’ forecast of 205,000 and 2,000 higher than the prior week’s revised figure of 204,000.
Continuing claims, which measure the number of people receiving unemployment benefits for two consecutive weeks, came in at 1.779 million. That was 8,000 above the prior week’s revised figure of 1.771 million.
Initial jobless claims are a gauge of whether the U.S. labor market is overheating. An increase in claims can signal that the labor market is cooling.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul