Initial Claims Dip to 423,000 But Still Miss Estimates
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Americans filing for unemployment benefits fell last week, though not as much as some were hoping for.
According to data from the U.S. Department of Labor Thursday, initial claims fell by 9,000 to 423,000 for the week ended September 17th. The figure was still worse than the 420,000 expected by the Street.
The prior week reading was revised higher from 428,000 to 432,000.
The four-week moving average rose slightly, from 420,500 to 421,000.
Continuing claims for the week ended September 10th dropped 28,000 to 3.73 million. Extended-benefits claimants fell 103,350 to 3.50 million in the week ended September 3rd.
Continuing claims for the prior week was revised rather sharply higher from an initial 3.726 million to 3.755 million.
Wednesday, Fed policy makers announced "Operation Twist," replacing some notes in its portfolio with longer-term Treasuries to keep borrowing costs down. The Fed sees unemployment falling only "gradually" over the next several months.
According to data from the U.S. Department of Labor Thursday, initial claims fell by 9,000 to 423,000 for the week ended September 17th. The figure was still worse than the 420,000 expected by the Street.
The prior week reading was revised higher from 428,000 to 432,000.
The four-week moving average rose slightly, from 420,500 to 421,000.
Continuing claims for the week ended September 10th dropped 28,000 to 3.73 million. Extended-benefits claimants fell 103,350 to 3.50 million in the week ended September 3rd.
Continuing claims for the prior week was revised rather sharply higher from an initial 3.726 million to 3.755 million.
Wednesday, Fed policy makers announced "Operation Twist," replacing some notes in its portfolio with longer-term Treasuries to keep borrowing costs down. The Fed sees unemployment falling only "gradually" over the next several months.
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