US weekly jobless claims log modest hike
Initial claims for US unemployment benefits rose slightly during the week ended Aug. 29, according to data released by the US Department of Labor today.
Weekly jobless claims totaled 206,000, slightly above market expectations of 205,000 and up from an upwardly revised 204,000 in the previous week (originally reported as 203,000).
Weekly unemployment claims serve as a proxy for US layoff rates and provide a near real-time indicator of labor market conditions.
Investors are currently awaiting the release of the August nonfarm payrolls report on Friday, with consensus estimates predicting the economy added 53,000 jobs, compared to a loss of 23,000 jobs in July.
|
US Weekly Jobless Claims |
||||
|
Item |
Last Year |
Last Week |
Latest Week |
Change |
|
Initial Claims (‘000) |
236 |
204 |
206 |
+2 |
|
Four-Week Average (‘000) |
230.5 |
205.75 |
207.25 |
+1.5 |
|
Total Beneficiaries (mln) |
1.937 |
1.771 |
1.779 |
+0.008 |
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