Jobless Claims:  November 1969 Lows

Bottom Line: Initial claims fell again in the last week, surprising expectations for a modest rebound. There was no discernible impact from Hurricane Florence in this report - but next week's report (for the week ended Sep 22) should see disruptions in reporting, likely forcing the DOL to use estimates for several mid-Atlantic states. The trend remains towards modest but steady declines in claims, suggesting continued positive trends in labor markets. The 4-week average is at 206k, below the 13-week average that is now 214k. Jobless Claims FELL by 3k during the week ended September 15th, 201k, compared with market expectations for an increase to 210k.The 4-week average FELL by 2.3k to 206k and the 13 week average FELL by 1.3k to 214k. Continuing Claims FELL by 55k during the week ended September 8th to 1,645k, after the prior week was revised slightly higher from 1,696k to 1,700k.The 4-week average FELL by 21k to 1,692k. On a non-seasonally adjusted basis, Continuing Claims FELL by 35k to 1,461k during the week ended September 1st. The Insured Jobless Rate STAYED at 1.2% during the week ended September 8th. The insured jobless rate only reflects the number of people collecting regular state unemployment insurance.