(Department of Labor) US jobless claims were 340,000 in the week that ended August 28, down 14,000 from the previous week. Analysts had projected a higher 345,000 claims.
On a 4-week moving average, jobless claims were 355,000, a decline of 11,750 from the previous week. The claims were the lowest since March 14, 2020.
Continuing claims fell by 160,000 to 2.748 million. Previous week’s continuing claims were revised up by 46,000 to 2.908 million.
Total claims under state programs declined by 3.7% or 11,040 to 287,751. The decline was higher than expected fall of 0.9% or 2,793.
Illinois, Florida, Maryland, Oregon, and New Jersey recorded the highest increases in initial claims. Michigan, Virginia, Texas, Ohio, and Georgia posted the largest declines in initial claims.
SPY is up +0.39%, DXY is down -0.10%.
